Insurtech Player Zopper Raises $25M in Series D Funding With 40 insurance companies and 2500+ ecosystem players, Zopper will utilize the fresh capital to ramp up digital infrastructure, by strengthening its Insurance Distribution platform
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Insurtech start-up Zopper, on Thursday, announced it had raised USD 25 million in Series D funding led by Elevation Capital and Dharana Capital.
Backed by Creaegis, Bessemer Venture Partners, and ICICI Venture, the start-up also saw participation from Blume Ventures. It previously raised Series C funding worth USD 75 million in September 2022.
"We take pride that we are the only Insurtech company that works with insurance providers and creates byte-sized, personalised products that it then supplies to distribution partners," said Surjendu Kuila, co-founder and CEO, Zopper.
With 40 insurance companies and 2500+ ecosystem players, Zopper will utilize the fresh capital to ramp up digital infrastructure, by strengthening its Insurance Distribution platform. It will also invest in its Data Science, Data Engineering and Artificial Intelligence, and Machine Learning capabilities.
Mayank Gupta, Co-Founder and COO added, "Our thesis from the early days has been clear: There's already an infrastructure, somebody has poured capital expenditure to build that infrastructure. So why don't we then use technology to streamline that instead of creating everything from scratch. We are here to transform and automate the insurance distribution model in India, effectively, strategically and keeping customers in mind."
The funds will also be used to accelerate growth in the current bancassurance solutions and enhance the post-sales and servicing capabilities for its device and appliance protection businesses.
