A funding round led by Inflection Point Ventures (IPV) and including participation from Capital A and Atrium Angels has raised Rs 6 crore for Bharatsure, an insurtech startup providing infrastructure-as-a-service (IaaS) solutions.
The money raised will go towards growing its insurance infrastructure and extending its group and embedded insurance products throughout India.
Bharatsure, an Infrastructure-as-a-Service (IaaS) platform that was founded by Anuj Parekh and Sanil Basutkar, allows companies, SMEs, and partner-led ecosystems to incorporate group and modular insurance products straight into their products.
In order to generate income from policy distribution, premium commissions, and value-added insurance technology services, the company’s business strategy centers on collaborating with organizations to offer scalable insurance infrastructure, employee benefits, and wellness solutions.
According to the startup, which has a 4.9/5 Google rating and more than 1,500 stations and 70,000 drivers across 50 cities, it has covered over 2,00,000 lives and processed 10,000. Additionally, it says it broke even at CM3 and doubled revenues in FY25. By FY28, it hopes to reach Rs 100 crore in revenue.
Pazcare, BimaKavach, SecureNow, and other insurtech companies are its rivals.
In order to introduce natural disaster insurance for station partners that covers fires, floods, earthquakes, and personal accidents, Bharatsure recently announced a partnership with Battery Smart, an EV battery-swapping network.
