Page 12 - IGLOO PR REPORT - JANUARY 2024

Igloo closes US$36M Pre-Series C fundraise with

50% valuation increase

ةعاس 16 ذنم
039 4 قئاقد

Igloo closes US$36M Pre-Series C fundraise with 50% valuation increase

Adv
Ahmed Tantawi– Regional insurtech Igloo today announced that it has closed a US$36
million Pre-Series C funding round. Global investment firm Eurazeo, through its insurtech

fund backed by the insurer BNP Paribas Cardif, led the investment. Openspace and La
Maison, who previously participated in Igloo’s Series B and Series B+ fundraises, also
joined in, reaffirming their confidence in the company’s strong business fundamentals.

Eurazeo invested through its insurtech fund focused on innovative technologies and
business ideas disrupting the insurance industry, whilst Openspace’s investment in this

round comes via its mid-stage fund, OSV+, which is focused on the Series C and D rounds
of transformative technology companies in Southeast Asia.

Matthieu Baret, Managing Partner – Venture at Eurazeo shared: “We are thrilled to invest in
Igloo with the insurer BNP Paribas Cardif. With our investments in China, Indonesia, India,

and Singapore, we’re extending our footprint with the ambition to become a leading player
in Asia.”

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