KUALA LUMPUR, June 6 ― Khazanah Nasional Bhd recently led a Series B fundraising round of a Malaysian home-grown insurance technology company, PolicyStreet, raising a total of US$15.3 million under its Dana Impak mandate.
“Khazanah’s investment in PolicyStreet complements its Future Malaysia Programme which aims to support the local start-up ecosystem of entrepreneurs, start-ups, venture capital and corporate venture programmes through collaboration with domestic and international partners. “We will continue to invest in innovative and impactful solution providers that leverage technology and product innovation to serve the nation.
Khazanah’s impact thesis is premised on how innovative insurance solutions provided by insurtechs like PolicyStreet offer accessible and meaningful coverage to the unserved and underserved which, in turn, enhance financial protection, household resilience and promote financial well-being for Malaysians.