Mumbai Based InsurTech Startup ‘Riskcovry’ Raises Pre-Series A Funding

InsurTech startup Riskcovry has raised around ₹9.3 crores in its Pre-Series A round led by Bharat Inclusion Seed Fund.

The funding round also saw participation from Varanium Capital and Better Capital.

As per the startup, it will use the funding amount to scale its product-market fit and serve more enterprise customers across segments.

The startup also plans to use the capital to develop its technology, growth teams, data sciences, product and sales.

Founded in 2018 by Suvendu Prusty, Sorabh Bhandari and Chiranth Patil, Riskcovry is a Mumbai-based InsurTech startup that helps businesses with a large user base to enable insurance distribution for users.

Talking about funding, the founders of Riskcovry in a joint statement said,

“We are super excited to be partnering with the Bharat Inclusion Seed Fund, Varanium Capital and Better Capital for our Pre-Series-A round. We embrace mutual thesis around intersecting inclusive insurance ecosystems with new-age technology tools and look forward to working with them closely as we accelerate into the next stage of our company’s evolution.”

Presently, Riskcovry provides its services across sectors like- e-commerce, HRTech, banking, FinTech, HealthTech and supply chain companies.