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1/16/24, 1:49 PM Igloo closes US$36M Pre-Series C fundraise with 50% valuation increase - Middle East News 247

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

50% valuation increase

By Middle East News 247 January 15, 2024

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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