About PolicyPal
PolicyPal is a Financial Services company based in Singapore (Singapore) founded in 2016, and was acquired by AMTD Group in March 2020. Mobile first insurance distribution platform. PolicyPal has completed 1 acquisition, including ValueChampion. Its focus areas include FinTech, Internet First Insurance Platforms, Insurance Comparison Platforms and Diversified. Its legal entity is POLICYPAL PTE. LTD. Its competitors include GoBear, Insurance Market and MoneyLine; 1 of its 3 listed competitors has raised funding.
Company details
PolicyPal provides a mobile application to purchase and manage the different insurance to the users. The user can take the photo of the existing policy and upload it to the application. PolicyPal analyzes the current plan and provides recommendation through the chatbot about the optimal insurance plans. PolicyPal has partnered with Aviva and AXA for insurance distribution.
- Headquarters Singapore, Singapore
- Stage Acquired
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website policypal.com
- Social LinkedIn X Facebook
- Acquired by AMTD Group (Mar 2020)
- Legal Name Policypal Pte. Ltd.
- Annual Revenue$89.16 K (USD)7as on Dec 31, 2018
- Net Profit-$805.92 K (USD)-75as on Dec 31, 2018
- InvestorsAMTD Group
& 3 more
- Investments & Acquisitions
- Acquired byAMTD Group
(Mar 2020)
Funding Insights of PolicyPal
- Total Rounds 3
- Investors Count 3
All 3 funding rounds of PolicyPal with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep 2020 | Seed | – | AMTD | – | |
| Mar 2017 | Seed | – | 500 Durians | – | |
| Jul 2016 | Seed | – | – |
4 investors in total: 4 institutional.
Investors in PolicyPal
PolicyPal has secured backing from 4 investors, including institutional and venture fund investors. Prominent investors backing the company include AMTD Group, AMTD ASEAN-Solidarity Fund and 500 Global.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Seed-stage investments are targeted globally by this venture capital firm. | durians.500.co | Singapore, Singapore | ||
Tech focused global accelerator firm | startupbootcamp.org | London, United Kingdom | ||
Investment banking and VC fund | 2003 | amtdgroup.com | Hong Kong, China | |
Financial support is provided to ASEAN FinTech companies. | 2020 | amtdsolidarity.asia | China |
Investor details for PolicyPal
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Investments & Acquisitions by PolicyPal
PolicyPal has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include ValueChampion.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Financial analysis services are provided for consumer and business needs. | valuechampion.sg | Singapore | 2015 | Oct 2021 | •••• |
Complete acquisition details for PolicyPal
Acquired stakes, deal sources and the complete acquisition history require an active premium plan.
- Acquired stakes
- Deal sources
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Timeline of PolicyPal
5 dated milestones of PolicyPal across 5 years, from founding to its latest funding, stage changes and deals.
- Founded PolicyPal is founded.
- Funding First funding round.
- Exit Acquired by AMTD Group.
- Funding Latest funding round, Seed,.
- Acquisition Acquires ValueChampion.
Competitors of PolicyPal
PolicyPal has 3 listed competitors in our database, 1 of them funded. They include GoBear, Insurance Market and MoneyLine.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| gobear.com | 2014 | Singapore | $97M | Financial products including credit cards and loans are compared online. | ||
| insurancemarket.sg | 2015 | Singapore | Insurance policies are compared and purchased online by users. | |||
| moneyline.sg | 2010 | Singapore | Personal finance products are compared on an online Singapore platform. |
Detailed competitors of PolicyPal
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Related news about Policypal
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Frequently Asked Questions about PolicyPal
PolicyPal was founded in 2016.
PolicyPal is headquartered in Singapore, Singapore.
Annual revenue of PolicyPal is $89.16K as on Dec 31, 2018.
PolicyPal provides a mobile application to purchase and manage the different insurance to the users. The user can take the photo of the existing policy and upload it to the application. PolicyPal analyzes the current plan and provides recommendation through the chatbot about the optimal insurance plans. PolicyPal has partnered with Aviva and AXA for insurance distribution.
PolicyPal's top competitors include GoBear, Insurance Market and MoneyLine.
PolicyPal has made 1 acquisition, including ValueChampion.
PolicyPal has 4 investors. Key investors include AMTD Group, AMTD ASEAN-Solidarity Fund, 500 Global, and Startupbootcamp.
PolicyPal operates through Policypal Pte. Ltd..
Yes. PolicyPal was acquired by AMTD Group in March 2020.