Family and friends of a "top bloke" who has suffered a brain haemorrhage while on holiday in Bali are raising money to get him home to Melbourne.

Respected business consultant Raj Jayarajah, 43, collapsed on the holiday island on Friday and underwent emergency brain surgery.

He's in an induced coma and needs to be flown home to Australia.

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While he has travel insurance, his friend Andrew MacQueen – who is also on holiday on the island – said the company has not yet approved the huge costs of his treatment or emergency flight home.

MacQueen, who has launched a fundraiser, said Jayarajah needs to get back to experts in Melbourne as soon as possible.

"We need him on a medevac plane to Australia as quick as we can," MacQueen told 9News.

"He needs to be in an intensive care ward at The Alfred.

"The insurance company is dragging their feet, this is life or death, we need him back in Australia."

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Jayarajah is on holiday with wife Emma and son Ari, eight.

He had a seizure in his villa in Nusa Dua and collapsed, hitting his head.

Ari called for help as Emma was out for a walk and Jayarajah was rushed to hospital unconscious.

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After scans, Jayarajah went into surgery to have some of his skull removed to relieve pressure on his brain.

MacQueen said he was lucky to be close to a hospital.

"Time was of the essence. If he was somewhere else on the island or stuck in traffic or snorkelling with us as we had been, I'd say he wouldn't be around," MacQueen said.

"He's a great guy, a family guy. He's just a top bloke."

With more than $150,000 raised as of this afternoon, the family is more than halfway toward a fundraising target for a special medevac flight.

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