- Peak3, formerly ZA Tech, raises $35M Series A from EQT and Alpha JWC Ventures.
- The insurtech firm has issued over a billion policies globally.
- Peak3 plans to invest in data, AI, and expand in EMEA.
A rebrand story
Insuretech firm ZA Tech has rebranded as Peak3 following a fresh $35 million series A fundraise. EQT and Alpha JWC Ventures invested in the round.
Backed by SoftBank’s Vision Fund, Peak3 was founded in 2018 by Chinese insurtech major ZhongAn.
Since its inception, Peak3 has evolved from an embedded insurance pioneer in Asia to a global end-to-end tech partner for the insurance industry.
The company now helps insurers craft new products and process claims, going beyond its initial focus on digitalizing back-end needs.
Hitting the billion-policy milestone
Peak3 plans to use the fresh funds to invest further in its data and AI capabilities and expand its presence in Europe, the Middle East, and Africa (EMEA).
The company has already partnered with industry leaders like AIA, Astra, Prudential, and Zurich, as well as startups like Grab, Home Credit, Klook, and Ovo. To date, Peak3 has issued over a billion policies, including its first products in North America and Africa.
This milestone underscores the company’s growing global reach and its commitment to transforming the insurance industry through technology.
To read the original article: https://www.techinasia.com/insurtech-zatech-rebrands-peak3-series-funding
