Strategy & Practice Management

Singapore Life fund-raising shows growing insurtech market

Singapore Life has raised USD50 million in a Series A funding round that is understood to be the largest of its type by a Singapore-based insurtech company.

The investments came from HKEx-listed integrated financial technology group Credit China FinTech Holdings through its subsidiary Impact Capital Holdings, and UK-based investment firm IPGL. 

Said Walter de Oude, chief executive officer of Singapore Life: “Having the support of these strong international shareholders attests to the strong confidence in Singapore Life’s strategy, and in Singapore as a financial centre and a destination for global investment.” 

Singapore Life is founded on the belief that the financial services industry can be enhanced and made more efficient by tapping on the latest innovative technologies to create a better experience when it comes to delivering financial solutions. 

“Singapore Life brings 21st century technology together with a very strong customer proposition, innovative distribution, cost effective product, and a fantastic brand,” said Mark Richards, chief executive officer of IPGL Limited.