Mumbai-based InsurTech FlashAid raises $2.5m in Series A

FlashAid, a Mumbai-based healthcare and InsurTech startup, has announced a successful raise of $2.5m in a pre-Series A funding round.

FlashAid, a Mumbai-based healthcare and InsurTech startup has announced a successful raise of $2.5m in a pre-Series A funding round.

The investment was spearheaded by Piper Serica Angel Fund, along with notable participation from global venture capital firm SOSV, according to InsurTech Insights.

Additionally, early-stage investors Z21 Ventures Fund and ZNL Growth Fund joined forces to bolster FlashAid’s financial backing.

Established by Manoj Gupta and Gunjali Kothari, FlashAid is dedicated to revolutionising healthcare accessibility and affordability.

The company’s innovative health solution encompasses proprietary pre-underwritten products, open APIs, and embedded solutions. Formerly known as EasyAspataal, FlashAid operates with the mission to democratise health insurance by prioritising an API-first approach.

With the newly secured funding, FlashAid aims to fuel its growth trajectory and embark on an ambitious expansion plan targeting six additional cities. This strategic move aligns with the company’s overarching goal of extending its reach and impact across diverse demographics.

FlashAid’s commitment to innovation is evident in its development of a unique channel for distributing retail health plans through a B2B2C platform.

Collaborating with over 20 platforms in the past year alone, FlashAid has successfully distributed 30,000 health covers, achieving profitability at the EBITDA level.

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