Zopper, a leading Insurtech platform, has successfully raised $25 million in Series D funding, co-led by Elevation Capital and Dharana Capital. Existing investor Blume Ventures also participated in the round, alongside prominent backers like Creaegis, Bessemer Venture Partners, and ICICI Venture.
Driving Innovation in Insurance Distribution
The fresh funding will enable Zopper to enhance its digital technology infrastructure and strengthen its Insurance Distribution platform. The company plans to invest heavily in data science, data engineering, artificial intelligence (AI), and machine learning (ML) to develop innovative solutions and improve efficiency.
Additionally, the funds will support growth in Zopper’s bancassurance solutions while enhancing post-sales and servicing capabilities for its device and appliance protection businesses. These strategic advancements aim to simplify insurance processes and deliver a seamless customer experience.
A Clear Vision for Transformation
Mayank Gupta, Co-Founder and COO of Zopper, highlighted the company’s mission:
“Our thesis from the early days has been clear: There’s already an infrastructure, somebody has poured capital expenditure to build that infrastructure. So why don’t we then use technology to streamline that instead of creating everything from scratch? We are here to transform and automate the insurance distribution model in India, effectively, strategically, and keeping customers in mind. If we get this right, it will be transformational for the ecosystem and the country.”
Investor Confidence in Zopper’s Growth
The funding round reflects strong investor confidence in Zopper’s potential to lead the Insurtech space:
- Mridul Arora, Partner at Elevation Capital, said:
“We are thrilled to announce our partnership with Zopper in their latest round of investment. Their resilience and exceptional prowess in product creation, technology development, and sales have driven extraordinary growth, setting new industry standards. As Zopper continues its journey towards fulfilling India’s ambitious ‘Insurance for All’ vision by 2047, we are excited to support their transformative contributions as they redefine benchmarks in the insurance sector.”
- Vamsi Duvvuri, Founder and Managing Partner at Dharana Capital, added:
“Zopper’s cutting-edge tech stack and customer-first approach have positioned them as a leader in the insurance ecosystem. We are excited to support their continued growth.”
Empowering India’s ‘Insurance for All’ Vision
With its innovative approach and advanced technology, Zopper is redefining the insurance landscape in India. The company is well-positioned to contribute significantly to the nation’s goal of achieving ‘Insurance for All’ by 2047, transforming insurance distribution through smarter, more efficient processes.
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