Carrot General Insurance Co., Ltd.
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Carrot General Insurance Co., Ltd. - overview
Established
2019
Location
Seoul, -, South Korea
Primary Industry
Insurance
About
Based in Seoul, South Korea, and founded in 2019, Carrot General Insurance Co. , Ltd. is an insurance company that provides digital non-life insurance. In December 2023, Carrot General Insurance Co.
, Ltd. raised KRW 129. 8 billion in Series A funding from Hanwha General Insurance and STIC Investments. The funding values the company at KRW 1 trillion post-money.
The round was part of a larger KRW 302. 2 billion series A funding. The company provides insurance products, including car insurance, smart on insurance, individual and family insurance, and auto and liability insurance. The firm also offers general insurance, contract management, smart on service, and authentication management.
The company plans to utilize the funding raised to expand its business by growing domestically and entering the overseas market.
Current Investors
Altos Ventures, STIC Investments, Affirma Capital
Primary Industry
Insurance
Sub Industries
Insurance, Accounting/Finance Software
Website
www.carrotins.com
Verticals
InsureTech, Mobile Apps
Company Stage
Series A
Total Amount Raised
Subscriber access only
Carrot General Insurance Co., Ltd. - timeline of key events
Carrot General Insurance Co., Ltd. - financials
| Fiscal Year Ended | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|
| Revenue (USD) | 29,480,399,725 | 168,791,830,962 | - | - | - |
| % Revenue Growth (YoY) | - | 472.6% | - | - | - |
| EBITDA (USD) | (32,324,400,916) | (55,810,612,041) | - | - | - |
| Operating Income (USD) | (38,217,595,273) | (65,013,752,207) | - | - | - |
| Operating Margin | (129.6%) | (38.5%) | - | - | - |
| % EBITDA Margin | (109.6%) | (33.1%) | - | - | - |
| NET Income (USD) | (38,120,249,858) | (64,949,722,151) | - | - | - |
| % Net Margin | (129.3%) | (38.5%) | - | - | - |
Carrot General Insurance Co., Ltd. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series A | Completed | Carrot General Insurance Co., Ltd. | - | ||||||||
| Series A | Completed | Carrot General Insurance Co., Ltd. | - | ||||||||
| Unspecified Round | Completed | Carrot General Insurance Co., Ltd. | - | ||||||||
| Unspecified Round | Completed | Carrot General Insurance Co., Ltd. | - |
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Carrot General Insurance Co., Ltd. - employee data
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