Malaysian insurtech company PolicyStreet has secured an additional US$5 million investment from BlueOrchard, taking its Series C funding round to US$26 million, according to media reports. The fresh capital will support the company's regional expansion, technology development and embedded insurance partnerships across Asia.
The funding will also be used to develop new insurance products for consumers, gig workers, small businesses, and micro, small and medium enterprises (MSMEs).
The investment comes through BlueOrchard's InsuResilience Investment strategy, adding the impact investment manager to an investor base that already includes Khazanah Nasional Berhad, Cool Japan Fund, Altara Ventures and Gobi Partners.
Expansion plans
Founded in Kuala Lumpur, PolicyStreet operates across insurance distribution, embedded insurance and reinsurance-related services.
The latest funding will accelerate the company's regional ambitions while strengthening its technology platform and expanding partnerships that integrate insurance into digital services.
Embedded insurance gains momentum
PolicyStreet's business model focuses on embedding insurance into existing digital platforms rather than selling policies as standalone products. This allows customers to access insurance at the point of need, such as when signing up for gig platforms, purchasing services or completing digital transactions.
The model has gained traction across Southeast Asia, where insurance penetration remains relatively low despite rapid digital adoption. By integrating insurance into existing customer journeys, companies aim to improve accessibility while reducing the barriers associated with traditional insurance purchases.
It aims to reach 1.5 million gig workers and 300,000 SMEs and MSMEs by 2030.
“Insurance is not a luxury. It is a necessity, and we remain committed to expanding access to protection for underserved communities across Asia,” said Yen Ming Lee, Co-founder and Chief Executive Officer of PolicyStreet.
Funding environment shifts
The investment comes as global insurtech funding remains below the record levels seen during the 2021 venture boom, with investors increasingly favouring companies demonstrating stronger revenue visibility, disciplined underwriting and scalable distribution models.
PolicyStreet's position is supported by partnerships with more than 40 insurance and takaful providers globally, giving it access to a broad distribution network as it expands across Southeast Asia.
Impact investor backs financial inclusion
BlueOrchard's investment reflects growing interest in businesses that combine commercial growth with measurable social impact, particularly around financial inclusion and access to essential services.
“Through its embedded insurance model, the company is expanding access to protection for underserved and underinsured communities while building a sustainable business,” said Alice Mak, Investment Director, Private Equity at BlueOrchard.
As PolicyStreet enters its next growth phase, its expansion will be measured not only by customer growth but also by policy uptake, renewal rates, claims performance and its ability to close protection gaps across the region.