Igloo Secures $27M Series B Funding, Expands Regulatory Reach

Singapore-based Insurance Technology Startup Igloo Raises $27 Million in Latest Funding Round

Singapore-based insurance technology startup Igloo has secured a significant $27 million in its latest funding round, bringing its total capital raised to $46 million. This news follows hot on the heels of its $19 million Series A financing in March 2022.

Accelerating Growth and Expansion Plans

The fresh funds will be utilized by Igloo to accelerate its growth and expansion plans, with a specific focus on enhancing its regulatory capabilities and deepening its footprint in key markets. The company’s innovative approach to insurance technology has resonated with investors, who are eager to support its mission of revolutionizing the insurance industry.

Regulatory Expertise

As Igloo continues to scale its operations, it has enlisted the expertise of several prominent law firms specializing in fintech and financial services regulation. These firms have provided valuable guidance on various aspects of licensing, including those related to digital assets and cryptocurrencies.

• Cavenagh Law LLP: Advised Igloo on various aspects of its license with the Monetary Authority of Singapore (MAS).
• OC Queen Street: Provided guidance on matters related to digital assets and cryptocurrencies.
• Drew & Napier LLC: Offers expertise in fintech regulations, including licensing, product counseling, and dispute resolution.
• Shook Lin & Bok LLP: Strengths in fintech matters, particularly in product counseling.
• Withers KhattarWong LLP: Experience in advising fintech companies on regulatory matters.

Key Takeaways

Igloo’s commitment to regulatory compliance will be crucial in driving growth and success. With the support of these prominent law firms and a growing roster of investors, the company is well-positioned to make a meaningful impact in the insurance technology space.