Finsall, a Bangalore, India-based insurance-first BNPL startup, raised INR 15 crore in a bridge funding.
The round was led by Unicorn India Ventures and Seafund with additional involvement from other institutional investors.
The company intends to use the funds to develop intuitive, user-friendly interfaces to provide seamless digital experiences for key stakeholders including insurance companies, brokers, agents and lending partners (Banks and NBFCs), and to develop more strategic partnerships with insurers, intermediaries, and lenders to broaden service offerings and enhance distribution channels.
Founded by Promod Khanna, Tim Mathews and Prabal Khanna, Finsall is an insurance-first BNPL, creating a new lending category. Unlike fintech’s targeting a specific customer segment i.e. salaried, self-employed, MSME, etc, Finsall serves a “universal set of customers” ranging from an HNI to a gig economy individual and SMEs through its lending solutions.
The company has grown 9X in the last 2 years, currently serving customers across 8,000 locations in India.
FinSMEs
12/06/2024