Indonesian insurtech startup Bang Jamin has raised US$4 million (approximately IDR 65 billion) in a pre-Series A funding round.

The round was led by Braxton Capital Ventures and SBI, with participation from BNI Ventures, BRI Ventures, and Northstar Ventures, according to Daily Social.

Braxton Capital contributed US$1.5 million (around IDR 24.5 billion), supporting Bang Jamin’s expansion in digital insurance solutions, particularly in the health, insurance, and social impact sectors.

The fresh capital will be used to scale the company’s distribution reach and enhance its technology infrastructure.

“Insurance should be simple, fast, and tailored to the needs of today’s society,”

said Indra Baruna, Co-Founder and CEO of Bang Jamin.

“This funding enables us to expand our technology and distribution network, making insurance more accessible to millions of Indonesians.”

Bang Jamin currently partners with over 30 insurance providers and operates an API-based platform capable of processing over 100,000 insurance policies daily.

Its offerings include vehicle insurance based on usage time, mileage, and driving behavior, as well as integrated health and credit insurance services.

The platform also supports real-time commission disbursement, fast service agreements, 24/7 customer support, and analytics and SaaS tools for vehicle dealers, financing companies, and fleet operators.

Braxton sees significant growth potential in Indonesia’s US$17 billion insurance market.

The firm points to regulatory shifts, including Law No. 4/2023 mandating motor vehicle insurance and new equity requirements from the Financial Services Authority (OJK), as key drivers of sector modernization.

With this funding, Bang Jamin aims to accelerate its business growth and establish a stronger role in modernizing insurance infrastructure in Southeast Asia.

Featured image credit: Edited by Fintech News Indonesia, based on image by thanyakij-12 via Freepik