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InsurTech start-up Ignatica raised US$7M in pre-series A funding
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Insurance policy administration platform Ignatica, a Cyberport incubatee that offers digital self-service and intelligent automation solutions for insurers, recently completed a US$7 million funding in pre-series A round.
The funding round was led by Lingfeng Capital, a growth capital private equity fund for the fast growing fintech sectors in Asia Pacific, particularly in the greater China region, with participation from the US-based SOSV Investment Funds, Australia-based Artesian, Hong Kong-based AFG Partners Fund, as well as other investors, helping the start-up build on the stunning growth it saw over the last 18 months where they tripled in size in both staffing and market traction.
“Thanks to our investors and partners in this round of funding we are poised to accelerate our growth across Southeast Asia, China, Japan and into Europe and North America,” said Travis Callahan, President and Co-Founder at Ignatica.
Founded in 2018, Ignatica offers digital solutions for insurers to build and launch new insurance products quickly, efficiently, and most importantly at lower costs. The platform also automatically adjusts pricing and changes product configurations to help insurers reach a wider range of customers.
The insurance industry is going through an era of unprecedented transformation, where consumers seek the convenience of buying and interact with insurance services easily with nothing more than their mobile phone," said CEO and Co-founder Manuel San Miguel. “Our platform not only lets insurers be fast and agile about launching products to meet these customer needs, it also empowers them to truly move into the era of digital servicing.”
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