Insurtech startup Finsall raised a seed round of Rs 2.4 Cr led by Unicorn India Ventures along with participation from SEA Fund and a slew of other angels. The company would use the recent infusion to beef up its team, scaling up of the platform, on-boarding insurance companies and lenders and intermediarie.
Finsall provides insurance premium financing service to policy seekers. The company partners with insurance companies and has also tied up with banks and NBFCs to provide loans for paying upfront insurance premium for the underserved market.
Commenting on the funding, Anil Joshi, managing partner, Unicorn India Ventures said, “The hefty premiums are a major roadblock and the biggest reason for Indians not buying insurance. By providing financial support to service premium, Finsall is addressing a real problem which can give a makeover to the whole sector.”