Indian InsurTech platform MetaMorphoSys Technologies has reportedly raised a pre-Series A funding round, which was led by Good Capital.
Contributions to the round also came from HNI, according to a report from TechStory.
The capital will be used to boost the development of its platform, grow the size of its team, as well as grow its footprint in India, Indonesia, Thailand, Hong Kong and Singapore.
MetaMorphoSys Technologies builds products and solutions for the insurance space, improving operations across the value chain. The company tracks the technological developments in the industry and helps insurers to keep up.
Earlier in the month, fellow India-based FinTech LoanAdda closed a funding round to help it deepen its capabilities.
India has established a strong FinTech sector. Since 2015, India’s FinTech sector has grown at a compound annual rate of 19.1% for FinTech investments between 2015 and 2019. There was a total of $5.1bn invested into Indian FinTech startups in 2019, alone.
Appetite for the country’s sector shows no signs of slowing, with several high-value deals closing this year already. Here are five of the biggest deals so far.
