Bimaplan, insurtech startup has raised $3.5 million in pre-Series A funding round led by Orios Venture Partners. Existing investors FinSight Ventures and 2am VC also participated in the round.
Bimaplan is an embedded insurance startup that works with financial services companies and ecommerce platforms, helping them with the capability to distribute insurance products to their customers.
Bimaplan will deploy the funds towards enhancing the features and scalability of its technology platform and launch new products to cater to the needs of its customers.
Vikul Goyal, founder, Bimaplan said “The latent demand for insurance is growing, given the large young workforce and an expanding middle class. With this new funding, we endeavour to build a sustainable and profitable distribution network, removing inefficiencies across the value chain with our strong technology suite.”