Fintech Singapore Life secures US$90m from major Japan insurer

Singapore

SINGAPORE Life - a fintech with an insurance and wealth focus - has secured a US$90 million investment from Sumitomo Life Insurance, with the major Japanese life insurer buying about 25 per cent in the Singapore firm.

The latest fund injection brings Singapore Life's valuation to US$358 million, its chief executive Walter de Oude told The Business Times on Monday, with the investment by Sumitomo Life now giving the startup the funds to speed up its "mobile-first ambitions".