Onsurity Raises $24 million in Series B Funding Round Insurtech platform Onsurity has raised $24 million in a Series B funding round which was led by International Finance Corporation (IFC).

By Kabir Singh Bhandari

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Former Indian cricketer Anil Kumble had also backed the company as a strategic investor in October 2022.

Insurtech platform Onsurity has raised $24 million in a Series B funding round which was led by International Finance Corporation (IFC). The insurtech startup plans to utilise the funding to work with its insurance partners to facilitate claims experience for its members, according to a statement by Onsurity.

Moreover, these funds shall give a boost to the company's objective to have strong partnerships with over 50,000 companies.

The new round took place after a period of two years, and back in August 2021 it had raised $16 million in its Series A round led by Quona Capital. Former Indian cricketer Anil Kumble had also backed the company as a strategic investor in October 2022.

Onsurity was started in 2020 by Yogesh Agarwal and Kulin Shah, and offers subscription-based services which can be purchased by customers who offer it to their employees and consultants. Currently, Onsurity works with over 5,000 companies, which includes Zepto, DBS Bank, Pantaloons, Jupiter Money and CleverTapPorter among others.

Having an aim to serve 50,000 businesses by 2026, its competition includes the likes of Plum Insurance, Secure Now, PazCare and Nova Insurance. The FY23 financials have not been disclosed by the company as of now, but for FY22, it's revenue from operations went up by 4.4X to INR 14.1 crore when compared to INR 3.22 crore in FY21.

Kabir Singh Bhandari

Former Senior Assistant Editor

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Science & Technology

5 AI Tools Doing Overtime So You Can Run a Profitable Solo Business (Without Losing Your Mind)

Most entrepreneurs are using AI to save time — but that's not where the real leverage is.

Technology

Dassault Systemes Sees Double Digit growth in India on Strong Domestic Demand

During the first quarter earnings, Dassault's Asia revenue increased 5 per cent driven by India, Southeast Asia, and Korea. Asia represented 22 per cent of the software revenue

Business News

The CEO of the World's Most Valuable Company Says This Would Be His College Major in 2025

Nvidia CEO Jensen Huang graduated with a Bachelor's degree in electrical engineering from Oregon State University in 1984, but he would change that major if he were in college today.

News and Trends

Reliance Retail Launches FMCG Brand 'Independence' In Gujarat

Independence includes diverse categories such as staples, processed foods, beverages, among other daily essentials