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Zopper, an insurtech startup, has raised $75 million in Sequence C funding, led by Creaegis together with ICICI Enterprise and Bessemer Enterprise Companions. The spherical additionally noticed participation from current investor, Blume Ventures and Tiger World. The fund raised will permit Zopper to additional bolster its SaaS platform and knowledge analytics capabilities, construct a subsequent technology knowledge engineering workforce, gasoline enterprise improvement initiatives, undertake inorganic development and discover alternatives within the worldwide market.
“Our deep understanding of know-how, knowledge and insurance coverage merchandise has given rise to the subsequent technology SaaS enabled distribution platform. The Insurance coverage business is but to witness utilization of such tech-enabled merchandise. Via this platform, Zopper is bringing the companions and insurers collectively and spearheading a profound transformation within the realm of insurance coverage distribution. We’ve got exponentially grown within the final 4 years, and can proceed to develop at a big tempo within the years to come back,” stated Surjendu Kuila, co-founder and CEO, Zopper.
Zopper goals to revolutionize insurance coverage distribution through its SaaS platform, deep integration layer and knowledge analytics capabilities. With greater than 150 companions and presence in over 1200 cities, the corporate goals to realize an annualized gross written premium (GWP) of $500 million by March 2024, claimed by the corporate in a press release.
“We imagine that know-how will play an essential function in bettering distribution effectivity and growing penetration of insurance coverage and assurance merchandise. Given ICICI Enterprise’s profitable funding monitor report within the Insurance coverage sector, we predict Zopper is effectively positioned to seize this long-term development alternative. We’re excited to assist the administration workforce’s imaginative and prescient to ascertain Zopper as a number one insurtech participant with its scalable know-how, a number of insurer tie-ups and partnerships with distribution channels throughout sectors,” stated Gagandeep S Chhina, director – personal fairness, ICICI Enterprise.
Based in 2011, Zopper is an embedded insurtech platform that goals to democratize entry to insurance coverage distribution through its SaaS platform.