Trans-Pacific Technology Fund, Genesia Ventures, and RDS led a $4.2 million seed investment for Rey, an Indonesia-based insurtech business.
Rey was established last year and provides both people and groups with health, life, and critical illness insurance. Through collaborations with pharmacies, telemedicine providers, and cashless payment processors, it also runs a health and wellness ecosystem.
It also introduced a brand-new product that enables consumers to customize services with the degree of protection most suited to their needs. This includes the use of the ReyCard debit card for contactless payments at participating healthcare facilities.
Evan Tanotogono and David Nugroho, two former insurance industry executives, founded the business. Bobby Siagian, a former engineer for Tokopedia, and Rosi Setyo Nugroho, a former executive for well-known drugstore chain Kimia Farma, round out the founding team.
Trans-Pacific Technology Fund provided Rey with $1 million in pre-seed capital in September 2021.
