Nova Benefits raises $1 mn seed funding

PTI Mumbai | Updated on April 14, 2021

To use the funds to integrate with insurance and HR management system companies, co-create new category of health insurance products, expand engineering and business development efforts

Nova Benefits, a corporate health insurance platform, on Wednesday said it has raised $1 million in seed funding, in a round led by Multiply Ventures, Better Capital and Titan Capital.

Rupeek Gold Loans CEO Sumit Maniyar and Early Salary co-founder Ashish Goyal also participated as angel investors, a company release said.

Bengaluru-based Nova Benefits is an employee benefits platform centred around corporate health insurance. It helps save HR time by eliminating manual workflows.

Through the platform, employees can access their insurance e-cards, find cashless hospitals and make claims.

The company plans to use the capital to integrate with insurance and human resource management system (HRMS) companies, co-create a new category of health insurance products with insurers and expand its engineering and business development efforts, the release said.

Its clients include Snapdeal, Yulu Bikes, Chumbak, Fisdom and Dealshare, among others.

Published on April 14, 2021

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