Riskcovry raises ₹9.3 crore in pre-Series A round

Our Bureau Mumbai | Updated on May 21, 2020

Riskcovry, a Mumbai-based InsurTech start-up, has closed its Pre-Series-A round led by Bharat Inclusion Seed Fund, which also saw participation from Varanium Capital and Better Capital.

The company raised ₹9.3 crore through the round, it said in a filing with the Ministry of Corporate Affairs.

“Riskcovry brings a fresh approach to digital distribution for the insurance market. Their API-first approach helps enterprise customers get access to highly relevant insurance products, through a completely digital process of underwriting, policy issuance, claim settlement and compliance,” Saras Agarwal, Principal at Bharat Inclusion Seed Fund, said.

“This extends the reach for insurance companies and provides downside protection to many end-users of enterprise customers at a very reasonable price point,” Agarwal added.

The start-up was started in 2018 by former insurance industry executives Suvendu Prusty and Sorabh Bhandari, and Chiranth Patil (who has a fintech and strategy background).

Published on May 21, 2020

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