Qoala
16 known investors
Qoala is an online insurance platform that lets consumers compare and buy insurance products, including health, life, and car insurance. It serves individual customers in Indonesia through an app and works with insurance partners.
Also known as PT. Mitra Jasa Pratama · Qoala Indonesia
Founders & leadership
Investors · 16
Also in the syndicate · 3
Funding
SEC filings, press & company announcements$47M disclosed across 1 of 4 rounds · 2024
- Undisclosed amountSeries CApr 2024 · 2 sources
MassMutual Ventures (lead), PayPal Ventures (lead), AppWorks, BNP Paribas Cardif, Eurazeo, Flourish Ventures, MUFG Innovation Partners, Ohana Holdings
Source ↗ - Undisclosed amountSeries CMar 2024
MassMutual Ventures, PayPal Ventures
Source ↗ - $47MraisedMar 2024 · 2 sources
PayPal Ventures (lead)
Source ↗
Source: company announcements and press reports — follow each round's link for the claim.
Company profile
researched Aug 2026Qoala is an omnichannel insurance technology company founded in 2019 that operates a multiline insurance distribution platform serving consumers, insurance agents and business partners. Through its app and website it offers products including health, life, car, motorcycle, gadget, travel, daily cash benefit and tropical disease insurance, letting users compare products, buy online and file claims. Products are underwritten through partnerships with insurers, and the Indonesian operating entity is PT. Mitra Jasa Pratama, based in Jakarta.
The business spans three main channels: a direct consumer platform, an agent platform used by a network of more than 60,000 marketers/agents, and an embedded insurance (B2B2C) channel serving digital partners and online marketplaces. Qoala also invests in claims handling capability, processing up to 60% of total claims in-house, and in technology for its insurer partners covering underwriting, claims processing and fraud detection, including generative AI applications for agent workflows.
Founding story
Qoala was founded in 2019 by Harshet Lunani and Tommy Martin to address Indonesia's low insurance penetration rate, with a stated mission of democratizing insurance and driving financial inclusion.
Business model
Qoala distributes insurance products underwritten by partner insurers, reaching end customers directly through its app, through a network of agents/marketers on its agent platform, and through embedded insurance arrangements with digital partners and online marketplaces (B2B2C).
Revenue derives from distributing partner insurers' policies across direct, agent and embedded channels; the company reports gross written premiums as its principal volume metric.
Traction
Since inception the agent network has sold over 170 million policies and the company reports reaching 9 million customers. In 2023 Qoala processed over 115,000 claims and reached 45,000 new customers. Gross written premiums grew 2.5x between the 2022 Series B and the March 2024 Series C, with profitability metrics reported as improving faster than GWP growth. The company works with over 60 B2B2C partners.
Latest developments
In March 2024 Qoala completed a $47 million Series C co-led by PayPal Ventures and MassMutual Ventures, with proceeds earmarked for expanding embedded insurance (B2B2C) across Southeast Asia, integrating AI across channels, adding products and channels to the agent platform, and pursuing strategic acquisitions and partnerships.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Described by its investors as holding a leading market position in Southeast Asian insurtech distribution and as a solution of choice for both consumer-facing platforms and traditional agents, addressing low insurance penetration in Indonesia. It was named to CB Insights' Fintech 100 and InsurTech 50 lists in 2023.
Qoala operates across multiple distribution channels simultaneously — direct consumer, agent network and embedded partnerships — while handling a majority of claims in-house rather than routing them to insurers, and offers multiline coverage spanning gadget, motor, health, life, travel and tropical disease products.
Technology
The company runs an insurtech platform covering product comparison, online purchase and claims, with in-house claims processing for up to 60% of claims. It is integrating artificial intelligence across its channels, including generative AI aimed at improving agent experience and operational efficiency, and is developing tools to support insurer partners in underwriting, claims processing and fraud detection.
Go-to-market
Qoala combines a consumer-facing app and website with an agent platform of more than 60,000 marketers and over 60 B2B2C partnerships with digital platforms and marketplaces. It also runs financial literacy advocacy across online and offline channels.
Retail insurance consumers in Southeast Asia, particularly Indonesia; independent insurance agents and marketers; and digital platforms, online marketplaces and insurers seeking embedded distribution or claims and underwriting tooling.
Geography
Operations in Indonesia and Thailand, with a growing presence in Malaysia and Vietnam; the Indonesian entity is headquartered in Jakarta at RTDX Square, Jl. Prof. DR. Satrio, Kuningan Timur, Setiabudi.
History
Founded in 2019 by Harshet Lunani (Founder and CEO) with Tommy Martin (Co-Founder and COO), Qoala built an agent-led insurance distribution platform in Indonesia and expanded into Thailand, Malaysia and Vietnam. It raised a Series B at the end of 2022, which brought in BNP Paribas Cardif as an investor, and closed a $47 million Series C in March 2024, bringing total capital raised past $130 million.
Compiled by commissioned research from 5 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 3
launches, deals, and filingsQoala announced completion of a USD 47 million Series C led by PayPal Ventures and MassMutual Ventures, joined by MUFG Innovation Partners, Ohana Holdings and existing investors Flourish Ventures, Eurazeo and AppWorks. Funds are for expanding embedded insurance across Southeast Asia, AI integration, agent platform products and channels, and strategic acquisitions and partnerships.
$47M source ↗
CB Insights included Qoala on its global Fintech 100 and InsurTech 50 lists in 2023.
Qoala completed a Series B round at the end of 2022; BNP Paribas Cardif began supporting the company at this round.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 5
primary sources listed
- Qoalaqoala.app · web
5 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Qoala do?
- Qoala is a Southeast Asian omnichannel insurtech distributing insurance via consumers, agents and embedded B2B2C partners.
- Who founded Qoala?
- Qoala was founded by Harshet Lunani.
- Who are Qoala's investors?
- Qoala's investors include AppWorks Ventures, Indogen Capital, Mandiri Capital Indonesia, STRIVE, AppWorks, Eurazeo, Flourish Ventures, KB Investment and 5 more.
- How much funding has Qoala raised?
- Qoala has disclosed $47M raised across 1 of its 4 known rounds.