Page 16 - IGLOO PR REPORT - JANUARY 2024

1/16/24, 1:47 PM Igloo closes US$36mln Pre-Series C fundraise with 50% valuation increase

Igloo C-suite (L-R)_ Wilson Tseng - Chief Business Officer. Zhu Liliang - Chief Technology Officer. Raunak Mehta - Co-Founder & CEO.
Sandra Ernst - Chief Operating Officer. Roshan Mahtani - Chief Financial Officer. Image courtesy: Igloo
Igloo closes US$36mln Pre-Series C fundraise with

50% valuation increase

The regional insurtech has closed a US$36 million Pre-Series C funding round to support its
regional expansion via strategic acquisitions

Press Release

January 15, 2024

The company has seen a 50 per cent rise in its valuation as it achieves significant business
momentum in 2023, and moves closer to profitability in 2024

Funding led by global investment firm Eurazeo, through its insurtech fund backed by the insurer
BNP Paribas Cardif, with participation from Openspace’s OSV+, and returning investor La Maison

UAE - 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

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