Thailand-based InsurTech startup Sunday has netted $10m in its Series A round of funding.
The round was backed by companies including Vertex Ventures Southeast Asia and India. Sunday is expecting to receive further investments from international backers later in the year.
Through the line of capital, the company is looking to expand into Malaysia, Indonesia and Singapore.
Sunday is an online insurance platform which leverages AI technology and machine learning on risk information, analysing and calculating more personalised insurance premiums. There are a range of insurance policies available through the Sunday platform including health, travel, and auto policies.
For auto insurance, policyholders can have their vehicle collected from their home and all repair parts have a one-year warranty. To make a claim, users simply use the app and can have support within 20 minutes, it claims.
In addition to protection, the auto insurance service also offers towing services, gas refills, roadside assistance and a 24 hour helpline.
Last year, fellow Thai InsurTech startup Roojai pulled in $7m for its Series A round from IFC. The company offers online auto insurance, with policyholders able to monitor and manage their protections digitally, receive 12-month warranty on repairs and access road-side assistance.
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