The new investment will accelerate Zopper’s advancements in data science, data engineering, and artificial intelligence/machine learning (AI/ML). The funds will also support the expansion of its bancassurance offerings and enhance post-sales and servicing capabilities for its device and appliance protection businesses.
Speaking on the milestone, Elevation Capital partner Mridul Arora remarked, “As Zopper continues its journey towards fulfilling India’s ambitious ‘Insurance for All’ vision by 2047, we are excited to support their transformative contributions as they redefine benchmarks in the insurance sector.”
Founded in 2011, Zopper specialises in collaborating with insurance providers to deliver byte-sized, personalised insurance solutions via its SaaS platform. The platform leverages customised APIs to streamline integration for its distribution partners.
Zopper CEO and co-founder Surjendu Kuila highlighted the company’s unique value proposition: “We take pride in being the only insurtech company that works with insurance providers to create personalised products, distributed seamlessly through trusted partners. With this approach, we aim to transform customer journeys and enhance financial protection.”
COO and co-founder Mayank Gupta added: “From the beginning, our focus has been on optimizing existing infrastructure using technology instead of building everything from scratch. This strategy allows us to automate and transform insurance distribution in a way that is strategic, efficient, and customer-centric.”
Zopper’s latest funding builds on its impressive fundraising track record. In 2022, the company raised $75 million in a Series C round led by Creaegis, with contributions from ICICI Venture, Bessemer Venture Partners, and Blume Ventures. Earlier, in 2015, it secured $20 million from Tiger Global and Nirvana Ventures Advisors.
With this latest round, Zopper aims to further cement its position as a leader in India’s insurtech ecosystem while contributing to the country’s broader financial inclusion goals.
