Healthcare and Insurtech company Flashaid has raised $2.5 million in a pre-Series A funding round led by Piper Serica Angel Fund and global venture capital firm SOSV. Investors such as Z21 Ventures and ZNL Growth Fund also participated in this round.

The company plans to utilise the funds for growth and to expand to six new cities.

Founded by Manoj Gupta and Gunjali Kothari, Flashaid is working on tie-ups with insurance companies to tailor-make products and partner with e-commerce platforms and brands to distribute insurance to their users. 

The company offers health solutions with proprietary pre-underwritten products, open APIs, and embedded solutions.

Formerly known as EasyAspataal, Flashaid is building an API-first health cover to make health insurance affordable and accessible to digital India. It is developing a distinctive channel for retail health plan distribution via a B2B2C platform. 

“With an expected 30 per cent surge in digital platform adoption by 2030, a significant opportunity emerges to align the ecosystem towards providing scalable solutions that promote health equity in India. This approach aims to make the healthcare ecosystem more accessible and user-friendly, benefiting the wider population,”said Gunjali Kothari, Co-Founder at Flashaid. 

Over the last year, the firm claims to have partnered with over 20 platforms to distribute 30,000 health covers and is profitable at the EBITDA level. Currently, it has an ARR (annual run rate) of $1 million and is expected to grow to $10 million ARR in the next two years. 

(Inputs from BL intern Meghna Barik)

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