SEOUL, July 2 (Bernama-GLOBE NEWSWIRE) — Carrot General Insurance Corp. (“Carrot” or the “Company”), South Korea’s first digital-only insurance provider, announced Friday that the rights offering (the “Rights Offering”) has been successfully closed with the gross proceeds of ￦100 billion (US $88.7 million). The amount of proceeds equals to the subscription of its rights the company issued for its founding capital back in 2019.
The digital non-life insurer has been a hot topic in insurance and investment circles since it established through a joint partnership between big name investors, namely Hanhwa, SK Telecom, Hyundai Motors, Altos Ventures and Stic Investments. As such, the latest round of offering seems to reaffirm stakeholders’ trust and confidence in its future growth potential and business strategies.