Insurance platform Finhaat has secured $3 million in seed funding, led by Omnivore and supported by Kettleborough VC. Launched in June 2022, Finhaat focuses on extending digital insurance services to underserved communities, especially in rural areas and tier II and tier III cities with middle and low-income populations. The startup employs a proprietary distribution infrastructure to address the insurance needs of these groups.
Primarily operating as a B2B insurance distribution and servicing platform, Finhaat collaborates with institutions serving the underserved, such as NBFCs, MFIs, BC networks, Nidhi companies, cooperatives, NGOs, and FPOs. The Mumbai-based company has introduced a suite of tailored APIs designed for rapid policy issuance and an end-to-end claims process. This technology aims to democratize insurance access, making it more inclusive and reaching a broader customer base.
The funding round, led by Omnivore and joined by Kettleborough VC, signifies a strong endorsement of Finhaat’s mission to bring comprehensive insurance solutions to traditionally underserved segments, contributing to financial inclusion across diverse communities.
That’s amazing news, Finhaat securing $3 million in seed funding is a big step towards providing inclusive digital insurance. It’s great to see startups like Finhaat working to address the insurance needs of underserved communities. This will definitely contribute to financial inclusion in rural areas and tier II and tier III cities.
~ Dr Shishir said Gupta founder & CEO of StartupLanes
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