Finsall raises 2.4 crore seed capital

Bengaluru: Finsall Resources Pvt Ltd, which operates an eponymous insurance-technology startup focussed on making insurance accessible for different segments, has raised Rs 2.4 crore ($328,188) in seed capital.

The round in the Bengaluru-based startup has been led by Unicorn India Ventures, a Mumbai-based firm that is currently investing out of its second fund. Unicorn India has also invested in another insurance-tech firm, Fedo, through this vehicle.

Finsall will use the capital it has raised to strengthen its presence in Tier-I cities and expand to Tier-II locations to leverage growing demand there.

Finsall was set up in 2018 by Promod Khanna, Tim Mathews, and Prabal Khanna. The company says its platform provides end-to-end support and service of insurance premium financing for customer segments including individuals, households, and enterprises.