November 21, 2024: Zopper, an insurtech platform has secured $25 million in a Series D round to ramp up its digital infrastructure, and to consolidate its insurance distribution platform. Furthermore, the investment infusion will enable Zopper to expand its bancassurance solutions and strengthen after-sales and service for its device and appliance protection businesses.
Mayank Gupta, Co-Founder and COO of Zopper said “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.”
Zopper to focus on data science, data engineering, AI and ML
The company, founded in 2011 by Surjendu Kuila and Mayank Gupta, has chalked out plans to deploy the funds to augment data science, data engineering, artificial intelligence, and machine learning capabilities. The firm has partnered with 40 insurance companies and 2500+ ecosystem players.
Zopper platform is configured with more than 1,000 APIs and the company works with insurance providers to create suitable byte-sized integrated insurance solutions for partners.
The latest round of funding spearheaded by Elevation Capital, Dharana Capital, and Blume Ventures. The round adds Elevation Capital to the company’s captable which already includes Creaegis, Bessemer Venture Partners, ICICI Venture, Dharana Capital and Blume Venture.
