OneDegree, a pioneering virtual insurer based in Hong Kong, has successfully secured $27 million in a recent funding round. The funding was primarily led by AIA Group Limited, a prominent insurance company in Asia. With this substantial investment, OneDegree aims to expand its digital asset insurance business and strengthen its presence across Asia.
OneDegree, founded in 2016, is among the first virtual insurers in Hong Kong. It offers a variety of insurance products such as travel insurance, pet insurance, and digital asset insurance. The demand for digital asset insurance has been growing as Hong Kong develops into a cryptocurrency trading hub.
The recent funding round for OneDegree serves as evidence of the increasing interest in digital asset insurance. As the cryptocurrency market continues its rapid growth, there is a corresponding surge in demand for insurance products that safeguard investors against potential losses. This trend is expected to persist in the foreseeable future.
Additional insights regarding the funding round include:
- AIA Group Limited, an industry leader in insurance across Asia, led the funding round.
- Other notable investors participating in the round included Animoca Brands, Hillhouse Capital, and Sequoia Capital China.
- Following this funding round, OneDegree’s total capital raised now amounts to $50 million.
