TLDR:
- BimaPay, an insurtech startup, raises $2 million in funding led by LC Nueva Investment Partners.
- The funding will be used to scale operations, improve technology infrastructure, and expand reach to underserved markets.
Article Summary:
BimaPay, an insurtech startup, has secured a $2 million funding round led by LC Nueva Investment Partners. Co-founded by Hanut Mehta, Mohit Gupta, and Kapil Garg, BimaPay specializes in digital lending with real-time processing to enhance accessibility and affordability in the insurance sector. The funding will support BimaPay’s mission to deepen its impact in financial inclusion and insurance ecosystem through technological advancements. The startup plans to use the capital to scale its operations, improve technology infrastructure, and expand its reach to underserved markets for broader financial inclusion across the country.
This funding round signifies a vote of confidence in BimaPay’s innovative approach to digital lending and its mission to make insurance more accessible to a wider population. By leveraging technology, BimaPay aims to address the barriers to entry in the insurance sector and promote financial inclusion in underserved markets.
