Total amount raised
$5.2 Million
Latest funding date
12/01/2022
Location
Insurance Samadhan has successfully raised funds in six rounds, attracting seven investors, including Equanimity Investments and 100Unicorns. The platform specializes in resolving insurance grievances, offering services such as claim recovery and health claim reimbursement.
Keep reading to explore the intricacies of Insurance Samadhan's fundraising journey and the investors backing this innovative platform.
What Is Insurance Samadhan?
Insurance Samadhan is an insurance company based in Noida, Uttar Pradesh, India, specializing in resolving insurance grievances. The company operates in the insurance, compliance, and InsurTech sectors and has a workforce of 51-100 employees.
Insurance Samadhan offers services such as case settlement, claim recovery, and health claim reimbursement. The platform emphasizes a transparent, customer-first approach and provides a hassle-free process for resolving complaints.
How Much Funding Has Insurance Samadhan Raised?
- Round Name: Seed
- Amount Raised: Not publicly disclosed
- Date: August 2018
- Lead Investors: India Accelerator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and build the initial platform for resolving insurance grievances.
- Round Name: Seed
- Amount Raised: Not publicly disclosed
- Date: March 2020
- Lead Investors: Venture Catalysts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the platform's capabilities.
- Round Name: Seed
- Amount Raised: USD 1,500,000
- Date: March 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve service offerings.
- Round Name: Seed
- Amount Raised: INR 55,000,000
- Date: December 2021
- Lead Investors: Equanimity Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To upgrade the platform to include claim management, insurance portfolio analysis, and policy servicing features.
- Round Name: Series A
- Amount Raised: INR 248,000,000
- Date: December 2022
- Lead Investors: IIFL Finance
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the platform's capabilities and reach a larger customer base.
- Round Name: Undisclosed
- Amount Raised: INR 85,000,000
- Date: May 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and technological advancements.
Total Amount Raised: USD 4,000,000
Current Valuation: Not publicly disclosed
Key Investors
- Equanimity Investments
- Details: Equanimity Investments is a venture capital firm that led the Rs 5.5 crore pre-Series A funding round for Insurance Samadhan. They focus on early-stage investments in high-growth potential startups.
- Investment Focus Areas: InsurTech, FinTech, HealthTech
- Notable Investments: Insurance Samadhan
- 9Unicorns
- Details: 9Unicorns, also known as 100Unicorns, is an accelerator fund that participated in the pre-Series A funding round for Insurance Samadhan. They are known for supporting early-stage startups with high growth potential.
- Investment Focus Areas: InsurTech, EdTech, HealthTech
- Notable Investments: Insurance Samadhan
- Venture Catalysts
- Details: Venture Catalysts is a leading early-stage incubator and accelerator in India. They participated in the Rs 5.5 crore pre-Series A funding round for Insurance Samadhan.
- Investment Focus Areas: InsurTech, E-commerce, HealthTech
- Notable Investments: Insurance Samadhan, Evenflow Brands
- IIFL Finance
- Details: IIFL Finance is a diversified financial services company in India. They led the Series A funding round for Insurance Samadhan, investing INR 248,000,000.
- Investment Focus Areas: Financial Services, Real Estate, Wealth Management
- Notable Investments: Not publicly disclosed
- India Accelerator
- Details: India Accelerator is a startup accelerator that provides mentorship and funding to early-stage startups. They were the lead investors in the initial seed round for Insurance Samadhan.
- Investment Focus Areas: InsurTech, FinTech, HealthTech
- Notable Investments: Not publicly disclosed
What's Next for Insurance Samadhan?
Insurance Samadhan is poised to capitalize on the $100 billion insurtech market in India by expanding its services to include claim management, insurance portfolio analysis, and policy servicing. This strategic move aims to address the low insurance penetration rate of 4% in the country, offering significant growth potential.
With the successful pre-Series A funding round, the company is well-positioned for future fundraising opportunities to support its ambitious expansion plans. The growing interest in insurtech solutions and the company's track record of resolving over 14,500 grievances highlight its potential for attracting further investments.
However, challenges such as regulatory compliance, customer trust, and competition from established insurance companies remain. Overcoming these hurdles will be crucial for Insurance Samadhan as it navigates the evolving landscape of the insurtech sector in India.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Insurance Samadhan and gather other critical business insights. Sign up for free to start unlocking valuable information today.
