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HONG KONG SAR –\u00a0Media OutReach<\/a>\u00a0– 30 August 2021 – OneDegree<\/a>, one of Asia’s fastest growing InsurTech \u00a0<\/p>\n The \u00a0<\/p>\n To \u00a0<\/p>\n “OneDegree has been going from strength \u00a0<\/p>\n Alex \u00a0<\/p>\n This \u00a0<\/p>\n Lincoln \u00a0<\/p>\n “We HONG KONG SAR –\u00a0Media OutReach\u00a0– 30 August 2021 – OneDegree, one of Asia’s fastest growing InsurTech companies, today announces that it has raised USD28 million in a Series B1 funding round, as it accelerates to be the next-generation InsurTech leader in the region. \u00a0 The latest round brings the total funds raised by OneDegree to …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/17242"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=17242"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/17242\/revisions"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=17242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=17242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=17242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\ncompanies, today announces that it has raised USD28 million in a Series B1
\nfunding round, as it accelerates to be the next-generation InsurTech leader in
\nthe region. <\/p>\n
\nlatest round brings the total funds raised by OneDegree to date to over USD70
\nmillion, demonstrating investors’ strong reception to the growth delivered by
\nthe Group since its previous funding round. The new funds will be used for
\nOneDegree’s investment in new technology, product development and expansion
\nacross both Business to Consumer (B2C) and Business to Business (B2B) segments.\n<\/p>\n
\ncomplement its expansion in Asia, the Group plans to double its headcount to
\n300 over the next 12 months. At the same time, it is deepening its strategic
\npartnerships in Asia Pacific and Europe, with the aim of becoming a global
\nInsurTech business with presence in five continents within the next five years.\n<\/p>\n
\nto strength. This latest funding round is a testament to our achievement and a
\nvote of confidence from both our existing and new investors,” said Alvin Kwock,
\nCo-founder of OneDegree. “Our ambition is to grow OneDegree Hong Kong into a top three general insurance
\nproviders in Hong Kong by 2025 and bring our proven consumer products to key
\nmarkets across Asia.”<\/p>\n
\nLeung, Co-founder of OneDegree, said: “With our IXT technology solutions,
\nOneDegree is already embarking on its plans to be a leading B2B technology
\nplayer in the global insurance space. We see increasing demands for IXT, as
\nmore and more insurance ecosystem participants are partnering with OneDegree
\nGlobal to leverage the power of our technology solutions to generate sales
\ngrowth and deliver business results. The reach of OneDegree’s technology is
\nglobal, bringing positive impact to insurance businesses and end customers.” <\/p>\n
\nSeries B1 funding round includes participation from new investors, including
\nthe direct investment unit of Sun Hung Kai & Co. and AEF Greater Bay Area
\nFund, along with six existing investors. <\/p>\n
\nYeh, Co-Head of Private Equity at Sun Hung Kai & Co. said: “The OneDegree
\nteam impressed us with the thoughtfulness behind their multi-line product
\nroadmap, as well as their modular, enterprise SaaS offering. We believe that
\nwith the founding team’s deep expertise across insurance and technology,
\nOneDegree is well-positioned to become a leading virtual insurer for markets
\nacross Asia. We are excited to partner with OneDegree as part of Sun Hung Kai
\n& Co’s direct investments strategy.” <\/p>\n
\nhave been tracking OneDegree since its Series A Round, when Alibaba Hong Kong
\nEntrepreneurs Fund (AEF) first invested. Since then, we have been impressed by
\nhow OneDegree is delivering on its business growth. As OneDegree further
\nexpands in Asia, it makes perfect sense for us to select OneDegree as one of
\nthe first investments for the AEF Greater Bay Area Fund”, said Chibo Tang,
\nmanaging partner of Gobi Partners, the general partner of the AEF Greater Bay Area
\nFund.<\/p>\n<\/p><\/div>\n\n
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