Sunday, an insurtech startup based in Bangkok, raised a $45 million Series B led by Tencent.
SCB 10X, Vertex Growth, Vertex Ventures Southeast Asia & India, Granite Oak, Quona Capital, Aflac Ventures, and Z Venture Capital participated in the round.
The new funding will be used to expand in Indonesia and develop new distribution channels, including insurance agents and SMEs.
Company: Sunday Ins Co., Ltd.
Round: Series B
Funding Month: September 2021
Lead Investors: Tencent
Additional Investors: SCB 10X, Vertex Growth, Vertex Ventures Southeast Asia & India, Granite Oak, Quona Capital, Aflac Ventures, and Z Venture
Company Website: https://www.easysunday.com/
Software Category: Insurtech
About the Company: Founded in 2017, Sunday describes itself as a “full-stack” insurtech, which means it handles everything from underwriting to distribution of its policies. Its products currently include motor and travel insurance policies that can be purchased online, and Sunday Health for Business, a healthcare coverage program for employers. Sunday also offers subscription-based smartphone plans through partners. The company uses AI and machine-learning-based technology to underwrite its motor insurance and employee health benefits products and says its data models also allow it to automate pricing and scale its underwriting process for complex risks. Sunday says it currently serves 1.6 million customers.