In a bridge round headed by Unicorn India Ventures and Seafund with additional participation from other institutional investors, insurance-first BNPL startup Finsall raised Rs 15 crore ($1.8 million).
Finsall had a pre-Series A round of funding of Rs 12 crore ($1.45 million) led by Unicorn India Ventures and Seafund in January 2022.
According to a press release from the business, the money will be utilized to establish an NBFC in order to expand lending operations and provide clients with greater insurance premium financing options.
In order to help its customers benefit from choosing the insurance products they need to offer credit for without having to deal with the complexity of developing separate lending or credit software systems, Finsall has launched its credit as a service (CaaS) platform.
Finsall says that in the last two years, their revenue has grown by a factor of nine. With 8,000 locations throughout India, the company serves clients, and its non-life insurance business has experienced significant growth.
Finsall’s average M-O-M growth rate for insurance premiums in FY24 was 18%. The company reports that for the fiscal year 2025, it is on track to achieve a 4X increase in revenue.
