Singapore-based insurtech Igloo narrowed its net loss to S$8.6 million in 2025 as revenue rose to S$80.9 million.
Its audited results show a 60.4% reduction in net loss and 45.9% revenue growth from the previous year.
Igloo attributed the improvement to higher partnership volumes in its embedded insurance business and automation of product development, partner operations and claims processing.
The company said engineering output increased without a proportionate rise in headcount.
The reported loss included S$2 million in non-cash share-based compensation, down from S$3.9 million in 2024, and S$1.1 million in foreign exchange translation losses.
Raunak Mehta, Co-Founder and Chief Executive Officer, Igloo, said,
“Revenue grew 46% year on year while OPEX stayed much the same. The way we’ve designed our operating system for insurance means that the cost of serving the next partner and the next million policies keeps falling. We are targeting adjusted EBITDA breakeven at the close of 2026.”
Featured image: Edited by Fintech News Singapore, based on image by kasuntharaka93 via Magnific
