# Igloo

Igloo is an Asset Manager based in Singapore, Singapore.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Singapore, Singapore
- **Region:** Asia
- **Address:** Singapore
- **Founded:** 2016
- **Assets under management:** Undisclosed
- **Website:** www.iglooinsure.com
- **LinkedIn:** https://www.linkedin.com/company/igloo

## Regulatory record

- **Reports private funds:** No

## About

IGLOO manufactures refrigeration equipment and inverter condensing units for food retail, bakery, and gastronomy sectors. Its product range includes display cases, refrigerators, freezers, heat pumps, and refrigeration solutions for supermarkets, restaurants, and cafes. IGLOO was founded in 1986 and is based in Nowy Wisnicz, Poland.

## Sectors

- InsurTech
- FinTech

## Offices

- Vietnam
- Indonesia
- Thailand
- Philippines
- Malaysia

## People

- Raunak Mehta — Co-Founder & CEO
- Wei Zhu — Co-Founder

## Questions

### Who runs investment decisions at Igloo?

Igloo is a venture-backed operating company, not an investment firm. Capital allocation is led by its leadership team with major funding rounds raised from institutional investors. The 2024 pre-Series C round was led by Eurazeo, with participation from Openspace's OSV+ and La Maison (per the firm, 2024).

### How does Igloo source and distribute its insurance products?

Igloo distributes through four channels: B2B2C partnerships that embed insurance into e-commerce and platform journeys, a direct-to-consumer platform in Indonesia, the Ignite agent network with over 22,000 intermediaries in Vietnam and Indonesia, and a corporate brokerage arm. It works with over 100 insurance and distribution partners in sectors like telecommunications, banking, and logistics (per the firm, 2024).

### What is the significance of Igloo's Labuan license?

Igloo secured a combined General and Reinsurance license from the Labuan Financial Services Authority in 2019. This regulatory approval allows it to underwrite and reinsure policies across multiple Southeast Asian markets, providing a structural foundation that most regional insurtech competitors lack (per the firm, 2019).

### How does Igloo's weather index insurance work?

Igloo launched its first blockchain-based parametric weather index insurance in Vietnam in 2021, covering over 5,000 hectares of rice farmland initially and later expanding to coffee farmers. Payouts trigger automatically based on weather data, eliminating manual claims processing. The product won the Asia Fintech Awards' InsurTech of the Year for Weather Index Insurance in 2023 (per the firm).

### What is Igloo's relationship with Grab?

Co-founder Wei Zhu was formerly the CTO of Grab, the Southeast Asian super-app. While Igloo operates independently, its founding DNA draws from Zhu's experience scaling technology platforms across the region, and it partners with major consumer platforms — though a specific Grab commercial partnership is not publicly detailed.

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- [Ocrolus](https://altss.com/profile/ocrolus)
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Last updated: 2026-06-03T20:00:00.000Z

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