Indian insurtech Zopper sequred $25 mn in Series D funding. Elevation Capital and Dharana Capital led the round, with support from existing investor Blume Ventures.
The new funds will drive Zopper’s progress in data science, data engineering, and AI/ML. It will also expand bancassurance offerings and improve post-sales support for its device and appliance protection services.
As Zopper moves toward India’s ‘Insurance for All’ goal by 2047, we are proud to support their efforts to set new benchmarks in the insurance sector
Elevation Capital partner Mridul Arora
Founded in 2011, Zopper works with insurers to deliver personalized, byte-sized insurance products via its SaaS platform. Its platform uses custom APIs to simplify integration with distribution partners.
COO and co-founder Mayank Gupta says, “Our focus has always been on optimizing existing infrastructure with technology, not building from scratch. This allows us to automate and streamline insurance distribution in a more efficient, strategic, and customer-centric way.”
We are the only insurtech that collaborates with insurance providers to create personalized products distributed seamlessly through trusted partners. This strategy transforms customer journeys and enhances financial protection,” he stated.
CEO and co-founder Surjendu Kuila
Zopper’s fundraising history reflects strong investor confidence. In 2022, it raised $75 mn in a Series C round led by Creaegis, with support from ICICI Venture, Bessemer Venture Partners, and Blume Ventures. Earlier, in 2015, Zopper raised $20 mn from Tiger Global and Nirvana Ventures Advisors.
With this latest round, Zopper aims to strengthen its leadership in India’s insurtech space while advancing the nation’s financial inclusion agenda.
