This round brings Sunday's total funding to $75M. Here are the top-line bullets you need to know.
Sunday, an insurtech startup, has raised $45M in a Series B. The round drew participation from Z Venture Capital, Tencent Holdings, and Quona Capital, among others.
How’s the company performing?
- Thailand-based Sunday uses AI and machine learning technology to offer personalized insurance products and services to individuals as well as businesses. Its offerings include motor and travel insurance policies, Sunday Health for Business (an employer healthcare coverage program), and subscription-based smartphone plans via its partners.
- Sunday catered to 1.6M customers in 2020 and doubled its revenue growth as well.
- The company’s partner base includes B-Quik and Dtac.
- The platform currently provides its services to more than 700 enterprises.
Why does the market matter?
- The global insurtech market is projected to grow at a CAGR of 10.8% and reach a value of $10.14B by 2025, according to Mordor Intelligence.
- Global insurtech funding is shattering previous records. In the first half of 2021, insurtechs raised $7.4B — surpassing the $7.1B raised for all of 2020 by more than $300M.