Healthcare and insurtech startup FlashAid raised $2.5 M Pre-series A funding
Piper Serica Angel Fund and international venture capital firm SOSV led the $2.5 million pre-Series A funding round for healthcare and insurtech startup Flashaid. ZNL Growth Fund and Z21 Ventures Fund, two early-stage investors, were also involved in this round.
According to a press release from the company, the money will be utilized for growth and expansion into six more cities.
Flashaid, a full-stack health solution provider with open APIs, proprietary pre-underwritten products, and embedded solutions, was founded by Manoj Gupta and Gunjali Kothari.
Renamed as EasyAspataal, Flashaid is developing an API-first health insurance plan to lower the cost and increase accessibility for regular people. Through a B2B2C platform, it is creating a unique distribution channel for retail health plans.
According to the company, it has distributed 30,000 health covers through partnerships with over 20 platforms in the past year and is profitable at the EBITDA level. It currently has an annual run rate (ARR) of $1 million, but over the next two years, it is anticipated to reach $10 million ARR.
