Sunday, a full-stack insurtech based in Thailand, announces that it has received a US$11 million extension to its Series A financing led by Quona Capital, a fintech venture firm whose funds are anchored by Accion, with participation from existing investor Vertex.
The company said that it will use the new funding to enable Sunday to expand its business and build enhancements to its proprietary core technology, which utilises machine learning to price premiums for health, motor, and travel insurance in real-time.
Launched in 2017, Sunday offers end-to-end insurance products and services powered by its machine-learning risk prediction engines.
“Over the last two years, Sunday has been focussed on redesigning the entire insurance journey using data and technology,” said Sunday co-founder and CEO Cindy Kua. “Today we’re able to deliver personalised coverage and superior customer experiences from initial insurance purchase all the way through to any claims, whether on the Sunday system or through its partner channels.”
“Insurance is such a vital part of how people all over the world achieve financial resilience,” says Ganesh Rengaswamy, co-founder and Managing Partner at Quona Capital. “Quona Capital is proud to back Sunday to not only make insurance more readily available to Thailand and other parts of Southeast Asia but to do so in a way that is consumer-friendly, fairly priced and transparent for users.”
Also Read: Insurtech startup Sunday Ins reveals the secret to win the Southeast Asian insurance market
Currently, Sunday provides solutions include real-time health, motor, and travel insurance premium pricing, employee health benefits platforms for corporate entities and their employees, mobile-first claims platforms for motor and health insurance, and a travel insurance pricing platform for travel agencies, among others.
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Image Credit: Sunday
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