Malaysia-based insurtech platform Bjak is considering an initial public offering (IPO) within the next two years as it looks to fund its next phase of international expansion, including a potential move into Europe.
According to reports, Bjak is evaluating opportunities beyond Asia, with Spain and Germany identified as possible entry markets in 2026, marking the company’s first expansion into Europe. This would build on its recent regional growth, following successful market entries into Japan, Taiwan and Thailand.
Founder and chief executive officer Low Wei said the company has recorded strong momentum, with gross written premiums growing between 20% and 30% this year, and expects growth to accelerate further as Bjak expands into new overseas markets. He added that the company has been profitable since its founding in 2019 and operates with low leverage, although detailed financial figures were not disclosed.
Low said a potential IPO would help support Bjak’s global expansion plans while also providing liquidity for employees through stock-based compensation. As part of its growth strategy, the company plans to significantly expand its workforce, with global headcount expected to double from nearly 200 to about 400 employees by the end of 2026.
Founded in 2019, Bjak operates a digital insurance comparison and purchasing platform, allowing users to easily compare policies and buy insurance across multiple markets. The company currently serves around seven million users and partners with 16 insurance providers, including global insurers such as Allianz and Tokio Marine.
Low noted that uneven adoption of insurance technology across Asia continues to create opportunities for digital-first platforms like Bjak, even as more mature markets such as the UK already show higher levels of insurance penetration.
