KOBA, a pay-as-your-drive car insurance start-up that recently took home an Excellence in Insurtech award, has launched a second crowdsource funding round, according to a story on Insurance Business Australia.
Last year, KOBA raised $1 million in its funding round on crowdsource equity platform Birchal. Now, it partnered with Birchal again to launch its second funding round that enables new and seasoned investors to join its cap table.
KOBA founder Andrew Wong said the KOBA team is thrilled to team up with Birchal again as crowdfunding grows exponentially.
“Our last raise was fully subscribed in just five days, reaching our maximum of $1M on the Birchal platform,” he said. “We were overwhelmed by the support and grateful to our 358 shareholders. So, we're excited to welcome everyone in again – our shareholders, customers, EOIs, and early adopters – to the cap table.”
Koba Insurance, one of Australia's first pay-per-kilometre car insurers earned the Excellence in Insurtech award at the seventh annual FinTech Australia Finnie Awards.