Zopper, an InsurTech startup specialising in creating tailored insurance solutions, has raised $25m in a Series D funding round.
The investment was led by Elevation Capital and Dharana Capital, with additional participation from existing backer Blume Ventures, according to a report from Business Standard.
The funds will be used to bolster Zopper’s digital technology infrastructure, enhancing its insurance distribution platform.
The company plans to invest in its data science, data engineering, and artificial intelligence and machine learning (AI/ML) capabilities. Zopper also aims to accelerate growth in its bancassurance offerings and improve post-sales and servicing capabilities for its device and appliance protection businesses.
Founded in 2011, Zopper works with insurance providers to design customised insurance products that are distributed through its network of partners. Leveraging its software-as-a-service (SaaS) platform, the company creates APIs tailored to meet specific needs, enabling seamless integration with distribution partners. These solutions are designed to enhance customer experience and provide end-to-end support.
Surjendu Kuila, co-founder and CEO of Zopper, said, “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.
“With trust of our partners, we are constantly building and working efficiently in transforming seamless journeys for customers to safeguard their future finances and increase financial protection.”
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