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Insurtech startup Bharatsure has raised $1 million (about 8.3 crore) in a funding round led by Capital-A (Manjushree Capital Advisors) along with participation from Grip Invest, existing investor Inflection Point Ventures, Dexter Ventures, HEM Angels and We Founder Circle. Bharatsure provides Infrastructure-as-a-Service (IaaS) solutions to insurance distributors like licensed brokers, agents, banks, and institutions empowering them to proactively distribute group insurance and healthcare seamlessly. The company aims to enhance insurance coverage throughout India. According to Bharatsure, its offerings also include holistic support for identifying insurance partners, product pricing, payments, operations, and claims. Bharatsure claims to have partnered with over 500 organisations, impacting more than 150,000 lives through its group benefits platform aims to secure 1 crore Indians in the next two years. Founders: Anuj Parekh and Sanil Basutkar Follow Rise & Shine for daily startup updates. Join our daily 2-min newsletter - www.riseshine.in #insurtech #insurance #startup #iaas #startup #funding #venturecapital

According to two persons familiar with the situation, InsuranceDekho is in talks to obtain a new round of funding from new and existing investors. This is the Gurugram based Startup's second round of fundraising in 2023. "InsuranceDekho has raised approximately $50 million in Series B funding from a couple of new investors." Existing supporters Goldman Sachs and TVS Capital will increase their investment, according to one source who requested anonymity. InsuranceDekho raised $150 million in one of the largest Series A fundraising rounds for an insurtech business in February. The company's primary supporters included Goldman Sachs Asset Management, TVS Capital Funds, Investcorp, Avataar Ventures, and LeapFrog Investments. In addition to the funding, InsuranceDekho purchased two startups in April. Verak (now, part of InsuranceDekho), a Mumbai-based SME insurance distribution firm, was the initial purchase, followed by IRSS, a Gujarat-based institutional insurance distributor. Ankit Agrawal recently stated that the company hopes to become profitable by FY24 and double its revenue over the same time period. While the corporation has not provide FY23 figures, it ended the previous fiscal year with an annualised premium run rate of Rs 3,000 crore. InsuranceDekho's income increased 61% to Rs 47.91 crore in FY22, from Rs 29.71 crore in FY21. During the same period, its losses increased by 55.6% to Rs 72.29 crore. Founded by Ankit Agrawal and Ish Babbar in 2016, InsuranceDekho is the insurance arm of the car-selling unicorn CarDekho Group. #funding #fundraising #fundingnews #businessnews #startup #startupindia #thestartuptrends

Famous shark Ashneer Grover Ventures into Fintech with ZeroPe! 🌟 The esteemed BharatPe Co-founder and former Shark Tank India judge, Ashneer Grover, is back with an innovative startup called ZeroPe! After his successful tenure at BharatPe, Ashneer, alongside his wife Madhuri Jain Grover and entrepreneurship wiz Aseem Ghavri, embarked on a new venture named Third Unicorn. Their journey began with a bang last year, unveiling CrickPe, an engaging fantasy gaming platform poised to challenge industry giants such as Dream11 and Mobile Premier League (MPL).   What is ZeroPe? 💸 -ZeroPe, the latest invention under the Third Unicorn umbrella, is undergoing rigorous testing. This groundbreaking app is purpose-built to provide swift pre-approved medical loans worth up to Rs 5 lakhs. -The strategic partnership with Delhi-based NBFC Mukut Finvest ensures that ZeroPe's services are exclusively available at select affiliated hospitals, revolutionizing medical financing accessibility.   Current Indian Healthcare Landscape 📈 India's digital healthcare landscape is expected to stagger a market potential of 37 billion by 2030. With this landscape, healthcare financing is anticipated to make a substantial 5 billion impact. Emerging startups like ZeroPe are at the forefront, harnessing the power of data-driven solutions to streamline healthcare financing processes, connecting hospital networks, health insurance providers, and government schemes to provide holistic care management solutions.   What are your thoughts on this new venture launched by Ashneer Grover? Let us know in the comments section. #zerope #healthcareinnovation #fintechrevolution #digitalhealthcare #startuplife #ecell #iitbombay

The continuing Series B investment round for the insurtech business InsuranceDekho has brought in $60 million in a combination of equity and loan funding. The new round of investors included Mitsubishi UFJ Financial Group (MUFG), BNP Paribas Cardif through its insurtech fund run by Eurazeo and Beams Fintech Fund. Participating investors included TVS Capital Funds, Goldman Sachs Asset Management and Avataar Ventures. The Gurugram-based business will raise money again in 2023, bringing its total amount raised to above $200 million. One of the highest Series A fundings raised by an insurtech business was $150 million in February for the company. The company is also one of the extremely few firms that was able to secure significant Series A and B funding in the same calendar year. According to a news release from the company, InsuranceDekho intends to use the funds to increase marketing efforts, broaden distribution across the nation, develop its tech platform and investigate inorganic development. Users can compare and purchase third-party insurance coverage for automobiles, health, life and other things on InsuranceDekho. The company's sole source of income is from brokerage fees collected from insurance companies. The six-year-old firm collaborates with the majority of insurance companies and asserts to have direct integration with close to fifty of them. According to a new data intelligence platform, InsuranceDekho reported Rs 96.5 crore in revenue in FY23 as opposed to Rs 47.9 crore in FY22. The company's losses in the most recent fiscal year were cut by 28.6% to Rs 51.6 crore thanks to a two-fold increase in scale and carefully managed spending. The company said that it is on track to earn a premium of Rs 3,600 crore this fiscal year and plans to have 200,000 agency partners using its platform by the end of March 2024. It currently exists in more than 1,500 areas, representing 98% of the country's pin codes. According to the corporation, tier II and higher regions account for approximately 90% of its premium.It states that it has currently served more than 6 million consumers. #funding #fundraising #fundingnews #businessnews #startups #InsuranceDekho #startupindia #thestartuptrends #insurtech

Insurtech startup Finhaat secures $3 million in its first institutional fundraise, led by Omnivore and Kettleborough VC. The Mumbai-based platform collaborates with 60+ institutions, distributing insurance to rural and semi-urban India. Vinod Singh, CEO, reveals plans to scale operations, aiming to onboard one crore customers annually. The funds will enhance technology, invest in business development, and establish internal processes. Finhaat, operational since June 2022, focuses on embedded insurance, offering life, health, and general products. With a monthly run rate nearing Rs 20 crore in premium payments, the startup prioritizes a comprehensive digital platform for sales, distribution, and claims servicing. Founded in 2021, Finhaat is a financial product delivery platform created focusing on the rural, tier 3 and 4 cities of India. batchmates Vinod Singh, Sandeep Katiyar, and Navneet Shrivastava started Finhaat #Insurtech #StartupFunding #InsuranceDistribution #FinancialInclusion #Omnivore #KettleboroughVC #fundraising #startupgrowth #india

Go Digit is a digital insurance company that provides a full range of insurance products online. It is backed by celebrity investors - Virat Kohli & Anushka Sharma. Their initial investment of ₹2 crore and ₹50 Lakh respectively is set to TRIPLE! The IPO is open till 17th May! #ipoalert #ipo #viratkohli #anushkasharma #godigit #startups #startupindia #stockmarketinvesting #stockmarketindia #stockstowatch #stocksinfocus

Insurtech startup Riskcovry raises $4.5 million in bridge round “With this small round in place, we intend to achieve cash profitability on a br of $25 million (Rs 200 crore approximately) in gross written premium processed per month, post which, we might raise a healthy Series B,” said Chiranth Patil, cofounder, Riskcovry. #VentureCapital #Riskcovry #Insurtech #IIFL #SeriesBFunding #FinancialServices #DubaiInvestment #Insurance #DigitalTransformation #FinancialInfrastructure #StartupNews #B2BFunding #TechInvestment #InsuranceDistribution #EmergingTechnologies #BusinessInnovation #FintechRevolution #IndianStartups #TechInInsurance #FinancialStack #BusinessNews #IndiaNews #Keralanews #Kerala #BusinessReviewLive #BRL #Keralabusiness

There is no funding winter for great teams and great founders. Anuj Parekh + Sanil Basutkar + Team (Healthysure +Bharatsure +Investors - congratulations I am elated to share that portfolio company Bharatsure have raised a round of USD 1 million led by Capital-A (Manjushree Capital Advisors) and co-invested by Grip Invest and our existing investors - Inflection Point Ventures , Dexter Ventures Hem Securities Ltd. and We Founder Circle As Healthysure secured 500+ organizations with top-notch employee benefits since 2021; and with the launch of our umbrella brand Bharatsure things only get bigger and better! This fresh capital injection in Bharatsure will further fuel our mission to democratize group insurance and empower intermediaries like licensed brokers, agents, banks, and institutions to distribute group insurance and healthcare seamlessly. This investment only spurs us on to scale bigger milestones and make quick inroads into India’s insurance landscape to create widespread impact on India’s health security. #insurtech #startups #funding #vcs #VCfund Ankit K. Bharatsure: Insurtech startup Bharatsure raises $1 million in funding round led by Capital-A - The Economic Times

InsuranceDekho, India's leading insurtech player, has raised $60 million in its ongoing Series B funding round, marking a significant milestone for the company. With this latest capital infusion, a mix of equity and debt, the company has attracted new marquee investors to its cap table while reaffirming the confidence of existing investors. This is the second fundraise for the Gurugram-based startup in 2023, taking its total fundraise to $200 million, further solidifying its position as the leading Indian insurtech. Japanese giant Mitsubishi UFJ Financial Group, the insurer BNP Paribas Cardif, through its insurtech fund managed by European investment major Eurazeo, India- focused Beams Fintech Fund and Yogesh Mahansaria Family Office have come on board as new investors. InsuranceDekho’s existing investors, TVS Capital, Goldman Sachs Asset Management, and Avataar Ventures, also invested, re-enforcing their confidence in the company. In February, InsuranceDekho secured $150 million in the largest Series A funding raised by an Insurtech in South Asia. Follow Equity 360 for more such updates. Contact@equity360.in for any query on investment banking purposes. #investing #funding #b2b  #brand #equity360 #startups #b2c #investmentbanking #trend 

In the fourth week of May 2024, Go Digit General Insurance Limited got listed and raised an amount of about Rs. 2614 Cr through IPO. Go Digit General Insurance Limited is a diversified insurance company. It offer motor insurance, health insurance, travel insurance, property insurance, marine insurance, liability insurance and other insurance products. Further, the venture funding amount raised by startups crossed $113 Million. Funds amounting to $24 Million were raised by Ahmadabad based EV Ride-hailing startup - “BluSmart” To find out more about the latest IPO launches and investments in startups, check out the latest edition of our newsletter: The Investment Buzz. #grow #learn #dontfallbehind #acupro #acuproconsulting #investmentbuzz #newsletter #investments #startup #fintech #funding #startups #finance #industrynews #industryupdates #ecommerce