Indonesian insurtech startup Qoala's losses more than doubled in 2021, filing shows

Indonesian insurtech startup Qoala's losses more than doubled in 2021, filing shows

Qoala CEO Harshet Lunani (left) and COO Tommy Martin.

Indonesian insurtech firm Qoala’s losses for the financial year ended Dec 31, 2021, ballooned 2.6 times to $10.36 million on the back of significantly higher expenses, per a regulatory filing by its Singapore-registered parent company.

Edited by: Joymitra Rai