Thai insurtech startup Roojai has acquired FWD General Insurance from Singapore’s Bolttech, while Cambodia-based Amara Capital has made a strategic growth investment in KFK Holdings.
Amara Capital makes strategic investment in KFK Holdings
Amara Capital, a Cambodia-licensed fund management company, on Monday announced a strategic growth investment in KFK Holdings, a leading F&B group that houses the popular Kungfu Kitchen in the country.
Amara Capital’s investment will help KFK Holdings enhance its business and financial capabilities, foster corporate governance, and expand its market share, a statement said.
Founded in December 2019, KFK Holdings started with one “Kungfu Kitchen” in Beong Keng Kang but has since grown to 14 stores across Phnom Penh within three years. It is known for its diverse and affordable menu offerings, serving authentic Chinese-style hot pot and side dishes.
Amara Capital is a fund management company licensed by the Securities and Exchange Regulator of Cambodia and run by experienced entrepreneurs and investment specialists. Amara offers financial solutions, including credit solutions and private equity investments, to small and medium enterprises (SMEs) in Cambodia.
Roojai to buy FWD General Insurance from Bolttech
Thailand’s insurtech startup Roojai has acquired FWD General Insurance, a local insurance business, from Singaporean industry peer Bolttech.
Following the transaction, FWD General, which offers personal and business insurance, will be rebranded and renamed under the Roojai brand, subject to regulatory approval, according to a company announcement.
The acquisition will increase Roojai’s market share with a combined portfolio of over $50 million in annual premium, and the startup will be granted the licence to underwrite general products.
Roojai, which offers insurance services for health, accidents, and cars, has so far accumulated 160,000 customers. In March, the insurtech company snapped up $42 millon in a Series B funding round from Germany’s Talanx Group and The World Bank’s International Financial Cooperation (IFC).
