Healthtech firm Flashaid raises $2.5 mn led by Piper Serica Angel Fund, SOSV

Healthcare and Insurtech firm Flashaid has raised $2.5 million in a pre-Collection A funding spherical led by Piper Serica Angel Fund and world enterprise capital agency SOSV. Buyers resembling Z21 Ventures and ZNL Development Fund additionally participated on this spherical.

The corporate plans to utilise the funds for progress and to broaden to 6 new cities.

Based by Manoj Gupta and Gunjali Kothari, Flashaid is engaged on tie-ups with insurance coverage firms to tailor-make merchandise and associate with e-commerce platforms and types to distribute insurance coverage to their customers. 

The corporate gives well being options with proprietary pre-underwritten merchandise, open APIs, and embedded options.

Previously often known as EasyAspataal, Flashaid is constructing an API-first well being cowl to make medical insurance inexpensive and accessible to digital India. It’s growing a particular channel for retail well being plan distribution through a B2B2C platform. 

“With an anticipated 30 per cent surge in digital platform adoption by 2030, a big alternative emerges to align the ecosystem in direction of offering scalable options that promote well being fairness in India. This strategy goals to make the healthcare ecosystem extra accessible and user-friendly, benefiting the broader inhabitants,”mentioned Gunjali Kothari, Co-Founder at Flashaid. 

During the last 12 months, the agency claims to have partnered with over 20 platforms to distribute 30,000 well being covers and is worthwhile on the EBITDA degree. At present, it has an ARR (annual run fee) of $1 million and is predicted to develop to $10 million ARR within the subsequent two years. 

(Inputs from BL intern Meghna Barik)