Peak3, formerly ZA Tech, a Singapore-based company specializing in insurance core system SaaS, raised US$35 million in Series A funding.
Investors
The round was led by EQT and Alpha JWC Ventures.
EQT is a purpose-driven global investment organization that offers consistent performance across geographies, sectors, and investment strategies. Founded in 1994, its funds invest in private equity, infrastructure, real estate, growth equity, and venture capital in Europe, North America, and Asia Pacific.
Alpha JWC Ventures is a Southeast Asian early-to-growth stage venture capital firm that debuted in Indonesia in 2015. The firm invests in venture-stage, growth, and late-stage companies with 70+ active portfolio companies and USD$650m of AUM.
Peak3 Use of Funds
The company will use the funds to accelerate its expansion in the EMEA region and investments in complementary data and AI solutions.
About Peak3
Formerly known as ZA Tech, Peak3 offers modular and comprehensive insurance core and distribution systems tailored for life, health, and property and casualty (P&C) insurance sectors. With operations spanning across regions like Europe, Asia, and North America, Peak3 collaborates with global insurers and digital platforms to enhance their insurance offerings through embedded insurance solutions. They collaborates closely with leading insurers such as AIA, Generali, Prudential, and Zurich and has forged partnerships with prominent digital platforms like Carro, Grab, Klook, and PayPay
Funding Details
Company: Peak3 Group
Raised: $35.0M
Round: Series A
Funding Month: June 2024
Lead Investor: EQT, Alpha JWC Ventures
Additional Investors:
Company Website: https://www.peak3.com/
Software Category: Insurance Core System
Source: https://www.insurtechinsights.com/za-tech-rebrands-as-peak3-raises-us35-million-series-a-led-by-eqt/