Roojai Founder Nicolas Faquet
After nearly a decade of building a digital-first insurance business, Thai insurtech firm Roojai has closed a US$60 million Series C round co-led by Apis Partners and Asia Partners.
Earlier investors, including HDI International, Primary Group, and the International Finance Corporation (IFC), also co-invested.
The new capital boost is earmarked for deepening Roojai’s presence in Thailand, accelerating growth in its Indonesian business, and pursuing strategic M&A to expand both vertically and geographically. In Sepetember 2023, the insurtech firm acquired motor DirectAsia Group from US-based small business insurer Hiscox for an undisclosed sum.
Launched in 2016 by CEO Nicolas Faquet, Roojai sells motor, accident, and health insurance products on a direct-to-consumer model. It has operations in Thailand, Singapore, and Indonesia. Since its founding,
Roojai has risen from a niche online motor-insurance provider to a multi-line digital insurer offering health, personal accident, travel, and motor coverage. Over its close to ten years’ of existence, Roojai has secured multiple round of funding, including US$42 million led by HDI International in 2023 and a US$20 million from Primary Group, besides a US$7 million Series A round from IFC.
Also Read: Thai insurtech firm Roojai bags US$42M in fresh funding
Why this deal matters
In Southeast Asia’s insurance industry, long dominated by brokers, intermediaries, and complex distribution channels, Roojai’s direct-to-consumer (D2C) model represents a paradigm shift. Rather than underwriting the vehicle, Roojai underwrites the customer, using risk-based segmentation to tailor premiums more fairly.
This customer-centric approach enables faster service, transparent pricing, and flexible instalment payments — features that resonate strongly in markets where consumers increasingly demand convenience and value.
The backing from Apis and Asia Partners, both firms with a track record of investing in high-growth fintech and financial-services tech platforms, signals growing investor confidence in Southeast Asian insurtech. Apis in particular highlights the value of financial inclusion and access, while Asia Partners emphasises Roojai’s ability to deliver “responsible and inclusive insurance ecosystems.”
Moreover, Roojai’s expansion into electric-vehicle (EV) insurance and its ongoing embrace of tools for embedded insurance — integrating insurance offers directly into payment/checkout flows — position it at the intersection of mobility, fintech, and digital distribution. These align with macro trends across the region: rising EV adoption, growing digital commerce, and increasing demand for seamless, tech-enabled financial services. Asia Business Outlook+2Tech in Asia+2
What’s next
With fresh capital in hand and a scalable, technology-driven platform, Roojai now appears set for aggressive regional scaling. Its roadmap includes:
- Expanding further into Indonesia, leveraging previous acquisitions such as the comparison site Lifepal to build distribution reach.
- Deploying its digital infrastructure and embedded insurance capabilities to enter new markets or verticals across Southeast Asia.
- Exploring strategic acquisitions to broaden its product suite and strengthen underwriting capacity.
Also Read: Thai insurtech company Roojai acquires DirectAsia from Hiscox
For observers of the region’s fintech and insurtech sectors, Roojai’s success offers a strong signal: Southeast Asia is entering a new chapter where digital insurers — built on tech, data, and direct consumer relationships — can disrupt a traditionally broker-driven market. With growing capital inflows, changing consumer behaviour and rising demand for flexible, transparent insurance, the stage is set for players like Roojai to define the future of insurance across the region.
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