Local insurance company based in Noida Start, GramCover has raised $ 7 million in a Series A funding round jointly led by Siana Capital and Inflexor Ventures.
Stride companies He also participated in this cycle with existing investors Omidyar Network India, Flourish Ventures and Emphasis Ventures (EMVC).
“With this funding, the company Technology And product offering. GramCover will also improve the availability of various insurance products and services in the GramCover Partner app and expand its point-of-sale network, technology, sales and operations teams in multiple regions, ”the statement said.
Talk it over investment Siana Capital partner Dinesh Goel told GramCover:
“With a strong, in-depth end-to-end technology platform tied to a network of local human-backed branches, we believe GramCover is well positioned to continue on its high growth trajectory. In addition, our business model is profitable. It helps achieve the dual goals of sexual growth and protection against livelihood risks mainly to rural populations. India“Goel added.
Pratip Mazumdar, partner at Inflexor Ventures, commented on the financing, stating: “
“We are delighted to be able to jointly lead the investment and to partner with a strong team of proven Jatin and Dhyanesh. GramCover Assurance The landscape of Bharath, ”he added.
In 2018, we started the journey by insuring 1,000 farmers. In 2009, GramCover worked with more than 1.7 million rural customers to provide insurance premiums of Rs 1.1 billion for products such as crops, automobiles, livestock and health.
Dhyanesh Bhatt, co-founder and CEO of GramCover Group, said of the funding: Investor Like Siana Capital and Inflexor. GramCover is bolstered by her deep technical expertise and start-up experience as she works to create a local insurance technology organization focused on growth and profitability. “
My vision for starting the “GramCover was to provide full coverage in the country of India. I believe ‘गांवकीसुरक्षा, गाय, गाड़ी, फसलऔरबीमारी, हैहमारीजिम्मेदारी’ (security village, livestock, car, harvest, and sicknessIt’s our responsibility), ”added Jatin Singh, Founder and CEO of GramCover.
Unitas Capital acted as the exclusive financial advisor to the company in connection with the transaction.
Siana Capital & Inflexor Ventures first appeared in TechGraph after co-leading a $ 7 million Series A at startup Rural Insurtech GramCover.
Siana Capital and Inflexor Ventures Co-Lead $ 7 Million Series A at Rural Insurtech Startup GramCover
Source Link Siana Capital and Inflexor Ventures Co-Lead $ 7 Million Series A at Rural Insurtech Startup GramCover