Asia insurtech group OneDegree closes its series B round of funding at US$55 million

OneDegree Group, a Hong Kong and Singapore-based insurtech company, has closed its Series B funding round at $55 million, with continued participation from venture capital company Gobi Partners, as well as BitRock Capital and Sun Hung Kai.

The company recently secured an additional $27 million for the round, on top of the $28 million it raised in August 2021.

The team credited the high investment yield in this round to the strong revenue growth in the last two years across its business units and innovations. Monthly revenue, it said, rose by four times, led by strong organic growth of its direct-to-consumer products.

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