HONG KONG, Aug. 31, 2021 /PRNewswire/ — Every Partner Matters! YAS MicroInsurance, a leading microinsurance innovative startup headquartered in Hong Kong, has partnered with and closed a Pre-Series A funding led by 500 Startups, a reputable global venture fund and seed accelerator for early-stage startups supporting their access to capital, mentorship, and community. Proceeds from this round will help YAS MicroInsurance to further strengthen its core R&D and accelerate its expansion in the SEA market.
As a next-generation InsurTech startup, YAS has launched several epochal products in recent months, such as ‘RYDE with YAS’, a pioneering microinsurance that provides in-app on-demand 90-min protection for passengers anytime, and ‘BUS RYDE’, the world’s first smart transportation card embedded bus passenger protection, seamlessly auto-connecting transport journeys with insurance policies through OpenAPIs delivering care, convenience and a new imagination on insurance to over 7 million commuters in Hong Kong.
Financial inclusion is the tenet of YAS MicroInsurance, which fosters the 500 Startups’ funding. Every product YAS developed provides financial inclusiveness with affordable micro-protection for all, starting at as low as US$0.5 per trip. ‘The future of microinsurance is affordable to all and enables us to be financially inclusive because every moment and every person matters!’ addressed William Lee, the Co-Founder of YAS.
Andy Ann, the other Co-Founder of YAS added, ‘As a leading pioneer in the microinsurance InsurTech field, we are excited and honored to move forward with 500 Startups as our backer. With the diverse SEA network and strong portfolio like Grab, Carousell, Gitlab, and Twilio 500 Startups hold, it will definitely help YAS with delivering more innovative products to Asia countries in the coming quarters.’
Apart from 500 Startups, YAS MicroInsurance has already been recognized by a range of notable investors and incubation programs, such as Beyond Ventures, Merdeka Financial Group, Cyberport Hong Kong and Plug and Play APAC. The company is also preparing for new funding rounds in the coming months to support its hyper-growth.
About YAS MicroInsurance
YAS is the No.1 microinsurance and technology company headquartered in Hong Kong with operations in Vietnam and expanding in the Asia Region. Their vision is to enable and embed insurance into the daily moments for everyone, anywhere, anytime and to build a future of insurance that has no wastage, streamable, sharable and on-demand.