Qoala, the Indonesia-based, Southeast Asia-focused insurance technology (insurtech) company, is receptive to holding investment talks with strategics to penetrate markets deeper or offer more products in current or new markets, co-founder and Chief Executive Officer Harshet Lunani said.

For now, the multi-channel insurtech firm is financially comfortable, so it is not in a hurry to launch another fundraising round. It is, however, open to do another capital raise if it could bring in a strategic investor that can offer more than financial backing, said the co-founder, who did not elaborate on Qoala’s finances.

In March, the company raised USD 47m in a Series C round led by PayPal Ventures and MassMutual Ventures and joined by MUFG Innovation Partners, Ohana Holdings and existing investors, Flourish Ventures, Eurazeo and AppWorks, as announced.

Qoala’s total capital raised to date is over USD 130m, which it has raised from other investors that include Peak XV Partners (formerly Sequoia Capital India), Kookmin Bank Investment, MDI Ventures, SeedPlus, Daiwa Capital, Indogen Capital, Mandiri Capital, and Salt Ventures.

An initial public offering is not yet on its near-term plans given that the public markets in the region remain moribund and any form of exit that Qoala can provide its investors would depend on market conditions, Harshet said.