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Insurtech firm OneDegree raises HK$100M in series A funding

Hong Kong-based insurtech startup OneDegree has raised HK$100 million in a series A funding round.

Investors also committed to provide an additional HK$100 million for future financial support at OneDegree's option.

OneDegree will use the amount in the series A funding to improve technology development, expand product portfolio and support customer acquisition. The funding will also serve as risk capital for the insurtech firm's pending insurance operation.