Ex-Grab CTO's startup Axinan raises Series A funding to create online insurance products

Ex-Grab CTO's startup Axinan raises Series A funding to create online insurance products 690 390 C-Suite Network
Axinan

Singapore insurtech startup Axinan has raised an undisclosed funding in a Series A round led by NSI Ventures, with existing investor Linear Venture joining the round with other backers.

The company will use the newly-raised capital to expand its business across the region, build new partnerships and accelerate hiring — especially for management positions. It will also invest in R&D to develop more digital insurance products.

Founded in 2016 by Wei Zhu, a former CTO of Grab, Axinan describes itself as a “full-stack insurance provider”. It aims to develop insurance products tailored for the online space, including but not limited to sectors such as e-commerce and online travel.

“We believe the best opportunity is to create new products for new distribution channels rather than competing directly with traditional insurance…