One of the top insurtech businesses, Zopper, today announced that it had raised $75 million in Series C funding from ICICI Venture* and Bessemer Venture Partners, with Creaegis serving as the round’s lead investor.
Founded in 2011, during its initial days Zopper was a customer-focused point of sale (PoS) system for retailers and small and medium businesses. Walmart owned PhonePe accquired Zopper in July 2018 . After selling their original business, the company’s co-founders Surkendu Kulia and Mayank Gupta started a new business under the same brand name which enables consumer internet companies to distribute insurance products via its SaaS platform
The raiused fundis will enable Zopper to strengthen its SaaS platform and data analytics skills, establish a team of next-generation data engineers, support business development initiatives, carry out inorganic expansion, and investigate market potential abroad.
Commenting on the announcement, Surjendu Kuila, Co-Founder and CEO, Zopper said, “Our deep understanding of Technology, Data and Insurance Products have given rise to the next generation SaaS enabled distribution platform. The Insurance industry is yet to witness usage of such tech-enabled products. Through this platform, Zopper is bringing the partners and insurers together and spearheading a profound transformation in the realm of insurance distribution. We have exponentially grown in the last 4-years, and will continue to grow at a significant pace in the years to come”