Igloo raises $36 million

Singaporean insurance startup Igloo has closed a $36 million pre-Series C funding round led by Eurazeo, with participation from Openspace and La Maison.

Founded in 2016, Igloo distributes a variety of insurance products through a B2B2C model. The startup claims to have “facilitated” over 500 million policies, counting 75 partnerships across six countries.

The new funding will go towards both horizontal and vertical M&A opportunities and increasing the workforce.

This latest round increased Igloo’s valuation by 50% as the startup “moves closer” to profitability in 2024.