New York-based hedge fund Tiger Global has led a new round of $15.7 million in group insurance platform Plum Insurance. The enterprise-focused insurance company has raised over $20 million to date.
Plum has approved the allotment of 37,970 Series A preference shares at an issue price of Rs 29,976.83 per share to raise Rs 113.82 crore or $15.7 million, regulatory filings show.
Tiger Global has spearheaded the Series A round with $10 million followed by Tanglin Ventures, Surge Venture and IF India who has invested $2 million, $1.6 million, and $1.5 million respectively.
