Vietnam's Saladin Secures Series A to Drive Digital Insurance Expansion

Vietnamese InsurTech startup Saladin has secured Series A funding led by SBI Ven Capital, with contributions from Kyobo Securities, NTUitive, Monk’s Hill Ventures, Peak XV Partners, and ICMG. Founded in 2022, Saladin operates as a digital-first insurance brokerage and multi-channel distribution platform, partnering with 15 leading insurers and serving nearly one million customers across Vietnam. The company supports a network of over 15,000 agents through its Saladin Pro platform, focusing on embedded B2B2C insurance products within payments, travel, and healthcare ecosystems. With the new capital, Saladin plans to expand beyond its current non-life product focus to include life insurance products such as term life and comprehensive health protection, delivered digitally as both standard and tailored packages. This expansion targets categories that typically require offline consultation, aiming to digitize these offerings to improve accessibility. Saladin is also investing in AI technologies to enhance personalization, productivity, claims management, and customer service flow. Strategic partnerships remain central to Saladin’s growth strategy, particularly for co-developing specialized insurance products in health, term life, and travel sectors with large enterprises. This approach supports expanding protection options for end consumers within a rapidly digitizing Vietnamese insurance market. Vietnam's insurance industry is currently evolving amid regulatory reforms, disruptions in bancassurance, and economic pressures, yet it remains resilient and poised for accelerated digital transformation. Saladin’s leadership highlights that Vietnam’s regulatory environment increasingly favors digital innovation, expecting substantial growth and innovation in the insurance and fintech sectors by 2026-2027. SBI Ven Capital recognizes Saladin’s platform-centric approach that integrates customers, carriers, and agents, positioning the company advantageously in the expanding Vietnamese insurance market. The partnership aims to strengthen the insurance ecosystem’s efficiency and connectivity through technology-driven solutions. This investment reflects broader trends of insurtech adoption aligning with regulatory support and market demand for digital insurance products in Vietnam.