The investment was led by Piper Serica Angel Fund and global venture capital firm SOSV, with participation from early-stage investors Z21 Ventures Fund and ZNL Growth Fund.
According to the company’s press release, the funding will support its growth and expansion into six new cities.
Founded by Manoj Gupta and Gunjali Kothari, FlashAid offers a comprehensive health solution featuring proprietary pre-underwritten products, open APIs, and embedded solutions. The company, formerly known as EasyAspataal, aims to make health insurance more affordable and accessible to the general public by building an API-first health cover.
FlashAid is also developing a unique channel for distributing retail health plans through a B2B2C platform. In the past year, the company claims to have collaborated with over 20 platforms to distribute 30,000 health covers and reports profitability at the EBITDA level. Its current annual run rate (ARR) stands at $1 million, with expectations to grow to $10 million ARR within the next two years.
