About Qoala
Qoala is a company based in Jakarta (Indonesia) founded in 2017.. Qoala has raised $134.5 million across 6 funding rounds from investors including Mirae Asset, Eurazeo and Peak XV Partners. Qoala has completed 2 acquisitions, including FairDee and KuPay. Qoala offers products and services including Asuransi Kesehatan, Asuransi Jiwa, Asuransi Mobil, Asuransi Motor, and Asuransi Santunan Tunai. Qoala operates in a competitive market with competitors including Generali Indonesia, 9LIVES, Jagadiri, SeaInsure and WowPremi, among others.
- Headquarter Jakarta, Indonesia
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
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- Legal Name Pt. Mitra Jasa Pratama
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$134.5 M (USD)
in 6 rounds
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Latest Funding Round
$47 M (USD), Series C
Mar 27, 2024
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Investors
Mirae Asset
& 24 more
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Employee Count
Employee Count
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Investments & Acquisitions
FairDee
& 1 more
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Products & Services of Qoala
Qoala offers a comprehensive portfolio of products and services, including Asuransi Kesehatan, Asuransi Jiwa, Asuransi Mobil, Asuransi Motor, and Asuransi Santunan Tunai. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Covers medical and hospital expenses for policyholders.
Provides financial protection against life events.
Offers coverage for car damages and risks.
Insures motorcycles against accidents.
Delivers cash benefits for health-related events.
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Funding Insights of Qoala
Qoala has successfully raised a total of $134.5M across 6 strategic funding rounds. The most recent funding activity was a Series C round of $47 million completed in March 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Series C — $47.0M
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First Round
First Round
(14 May 2019)
- Investors Count 25
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2024 | Amount | Series C - Qoala | Valuation | PayPal Ventures , MassMutual Ventures | |
| Dec, 2023 | Amount | Series B - Qoala | Valuation |
investors |
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| Jan, 2023 | Amount | Series B - Qoala | Valuation | responsAbility |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Qoala
Qoala has secured backing from 25 investors, including venture fund and institutional investors. Prominent investors backing the company include Mirae Asset, Eurazeo and Peak XV Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital fund investing in early-stage tech startups
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Founded Year | Domain | Location | |
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Corporate-backed venture capital fund
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Founded Year | Domain | Location | |
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Venture capital firm focused on early-stage startups backed by corporate office
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Qoala
Qoala has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include FairDee and KuPay. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Payment services for EVM networks are provided online.
|
2021 | ||||
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Provider of insurance quoting software
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2017 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Qoala
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Qoala Comparisons
Competitors of Qoala
Qoala operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Generali Indonesia, 9LIVES, Jagadiri, SeaInsure and WowPremi, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Offers life, health, critical illness, and pension insurance services in Indonesia.
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| domain | founded_year | HQ Location |
Platform offering insurance solutions
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| domain | founded_year | HQ Location |
Provides insurance coverage for health, accidents, vehicles, and life needs.
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| domain | founded_year | HQ Location |
Life and general insurance products
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| domain | founded_year | HQ Location |
Offers a platform for multiple insurance products.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Qoala
Frequently Asked Questions about Qoala
When was Qoala founded?
Qoala was founded in 2017 and raised its 1st funding round 2 years after it was founded.
Where is Qoala located?
Qoala is headquartered in Jakarta, Indonesia. It is registered at Jakarta, Jakarta, Indonesia.
Is Qoala a funded company?
Qoala is a funded company, having raised a total of $134.5M across 6 funding rounds to date. The company's 1st funding round was a Series B of $7.5M, raised on May 14, 2019.
What does Qoala do?
Qoala was founded in 2017 in Jakarta, Indonesia, as a diversified internet-first insurance platform targeting individuals. Life and non-life insurance services are delivered through a mobile app, including quotes for travel, health, gadget, and P2P coverage. Claims processing and settlement are managed digitally to support users in the insurance sector across Indonesia.
Who are the top competitors of Qoala?
Qoala's top competitors include 9LIVES, SeaInsure and Generali Indonesia.
What products or services does Qoala offer?
Qoala offers Asuransi Kesehatan, Asuransi Jiwa, Asuransi Mobil, Asuransi Motor, and Asuransi Santunan Tunai.
Who are Qoala's investors?
Qoala has 25 investors. Key investors include Mirae Asset, Eurazeo, Peak XV Partners, Mirae Asset, and responsAbility.
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