KOBA Insurance is on a mission to help over 10 million Aussie drivers lower their annual premiums by only charging them for the km that they drive.
Andrew Wong (CEO) – Has been on the forefront of digital media and marketing for most of his career, always on the edge of change. Holding a Masters in Business Entrepreneurship, Andrew has launched 3 small businesses and successfully raised money twice for start-ups.
Some people drive their cars a lot, some people drive their cars very little, so why are they paying the same fee for their car insurance?
KOBA offers real-time, comprehensive insurance that means drivers benefit from transparent pricing, where they pay just a few cents per km they drive. As people are only paying for the kms they drive those who don’t drive very often can save money. KOBA utilises smart technology which is already fitted in most new cars to track and assess usage, helping drivers pay for how much they use along with reducing claims cost and fraud. They also offer all of this in a monthly renewable policy instead of an annual contract, allowing consumers increased flexibility.
Location: Australia, Victoria, Docklands
Employees: 11-50
Total raised: $750K
Founded date: 2020
Investors 1
| Date | Name | Website |
| - | InsurTech ... | insurtechg... |
Funding Rounds 2
| Date | Series | Amount | Investors |
| 30.08.2021 | - | $500K | - |
| 15.12.2020 | - | $250K | - |
Mentions in press and media 5
| Date | Title | Description | Source |
| 02.12.2021 | KOBA launches pay-per-km in Australia | Aussie insurtech start-up KOBA, an Insurtech Gateway Australia portfolio company, has announced that... | insurtechg... |
| 30.08.2021 | KOBA announces $500k funding and underwriter | KOBA Insurance opened their crowdsource funding round with Birchal on 26th August, reaching their mi... | insurtechg... |
| 25.04.2021 | The impact of data on pricing dynamic risks | As discussed in the Insurance News insurtech analysis section this month, the progressively dynamic ... | insurtechg... |
| 13.04.2021 | KOBA signs exclusive AU/NZ deal with By Bits | Australian start-up, KOBA, has signed a SaaS (Software as a Service) partnership agreement with By B... | insurtechg... |
| 15.12.2020 | KOBA CLOSES $250K ANGEL FUNDING ROUND | Australia’s newest connected car insurance company, Koba, has closed its angel round of funding for ... | insurtechg... |