Insurtech startup Zopper bags $25 million in round led by Elevation Capital, Dharana Capital
Zopper has raised $25 million in a fresh round of funding led by Elevation Capital and Dharana Capital, the company said in a note today.
While Elevation Capital is an active investor in the Indian fintech ecosystem, Dharana Capital has backed the likes of NoBroker, Urban Company and others.
The round also saw participation from existing investor Blume Ventures. Creaegis, Bessemer Venture Partners, and ICICI Venture are the other investors of Zopper. The startup has raised $96 million in total equity infusion till now.
The Noida-based startup will use the funds to ramp up its digital technology infrastructure, by strengthening its insurance distribution platform. The funds will also accelerate growth in the current bancassurance solutions and enhance the post-sales and servicing capabilities for Zopper’s device and appliance protection businesses. The bancassurance model is the means through which insurance policies are sold through banking channels.
Zopper offers a technology stack which can help banks and other firms package and sell insurance products to their customers.
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