When Roojai launched in Thailand nearly a decade ago, it looked like a niche player trying to modernize a slow-moving industry. But 2025 has reshaped the company’s trajectory. With a fresh $60 million Series C round led by Apis Partners Group and Asia Partners, Roojai is no longer just a digital insurer – it is positioning itself as one of Southeast Asia’s most ambitious insurtech ecosystems. At NewsTrackerToday, we view this funding round as a sign that the region’s insurance market is entering a phase of structural transformation, driven by companies that combine technology, underwriting capability, and regional scale.
The new capital will fuel expansion in Thailand, accelerate the company’s footprint in Indonesia, and support future M&A activities. Existing shareholders – HDI International, IFC, and Primary Group – also reinvested, confirming their confidence in Roojai’s long-term strategy and operational resilience.
Founded by CEO Nicolas Faquet in 2015, Roojai evolved from a digital auto insurance provider into a multi-line insurance platform. Its product suite now spans health, travel, and accident insurance. The turning point came with the acquisition of FWD General Insurance Thailand, later rebranded as Roojai Insurance. This move gave the company full underwriting capability – a shift that, in our view at NewsTrackerToday, marked the moment Roojai transitioned from a digital distributor into a full-fledged insurance group.
Geopolitics and energy markets expert Daniel Wu attributes investor interest to broader regional dynamics: “Southeast Asia is in the midst of rapid middle-class expansion, where insurance demand is rising faster than traditional players can respond. Roojai is filling the vacuum between outdated industry structures and the digital expectations of modern consumers.” He points out that the region faces chronically low insurance penetration, making it fertile ground for scalable digital models.
Roojai’s ecosystem now includes several distinct business units. Roojai Insurance provides general insurance services in Thailand; Roojai Indonesia operates as a managing general agent; MrKumka serves as an auto insurance comparison platform; and Lifepal – acquired in Indonesia – is one of the country’s largest insurance comparison sites. For NewsTrackerToday, this interconnected architecture is crucial: “Roojai isn’t just selling insurance – it is building an integrated system where distribution, pricing, underwriting, and customer management reinforce one another.”
Chief macroeconomic analyst Ethan Cole highlights another layer of investor confidence: “Roojai scales like a technology platform rather than a traditional insurer. That means operating costs rise far more slowly than revenue – a characteristic investors value deeply in emerging markets.” He notes that digital insurance in developing economies often outperforms legacy models, especially where administrative inefficiencies remain high.
One of Roojai’s strongest differentiators is its personalized underwriting model. Drivers with excellent track records receive tailored discounts, and customers can adjust coverage with minimal friction. Roojai is also developing dedicated policies for electric vehicles – a segment expected to surge as governments introduce more EV incentives. From our perspective at NewsTrackerToday, this is a strategic move into a future-oriented category that traditional insurers have been slow to embrace.
However, the company’s rapid expansion brings challenges. Regulatory frameworks in Thailand and Indonesia are strict and sometimes unpredictable. M&A-driven growth requires careful integration management. And as digital penetration increases, competitors – both legacy insurers and new insurtech startups – are moving aggressively to replicate Roojai’s approach.
Despite these pressures, our analysis at News Tracker Today indicates that Roojai has something rare in the insurtech sector: a combination of technological maturity, multi-product capability, and full underwriting infrastructure. This foundation positions it strongly against both established players and emerging challengers.
Given the company’s current trajectory, Roojai has the potential to become one of Southeast Asia’s first truly regional digital insurance platforms, setting new benchmarks for speed, transparency, and customer experience. We recommend that Roojai continue strengthening its Indonesian presence, expand selectively through targeted M&A, and develop products for high-growth categories such as EV coverage and digital health. For investors, Roojai remains a model of how insurtech can scale sustainably across emerging markets.
If Roojai maintains its momentum, it won’t simply compete in Southeast Asia’s insurance market – it may redefine it.
