Hong Kong pet insurer OneDegree raises $28 million
With the funding, the company wants to expand across Asia and double its headcount to 300.
Alvin Kwock, Co-founder: “Our ambition is to grow OneDegree Hong Kong into a top three general insurance providers in Hong Kong by 2025 and bring our proven consumer products to key markets across Asia.”
The new funds will be used for OneDegree’s investment in new technology, product development and expansion across both B2C and B2B segments.
At the same time, OneDegree sets its sight on becoming a global business with deeper strategic partnerships in Europe and Asia Pacific.
When founded in 2016, the company was one of the first in Hong Kong to receive a virtual insurance licence (according to its website).
With this latest round of funding, total funding for the company reaches over $70 million.
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