Page 21 - IGLOO PR REPORT - JANUARY 2024

1/16/24, 1:48 PM Igloo closes US$36M Pre-Series C fundraise with 50% valuation increase | UAE News 24/7
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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