TLDR:
- FlashAid raises $2.5 million in funding round led by Piper Serica Angel Fund and SOSV.
- Founded by Manoj Gupta and Gunjali Kothari, FlashAid focuses on exclusive tie-ups with insurance companies and partner with e-commerce platforms to distribute insurance.
FlashAid, a health care and insurtech company, has secured $2.5 million in funding in a pre-Series A round led by Piper Serica Angel Fund and SOSV. The company, founded by Manoj Gupta and Gunjali Kothari, aims to tailor-make insurance products through partnerships with insurance companies and e-commerce platforms. By offering a full-stack health solution with pre-underwritten products, open APIs, and embedded solutions, FlashAid aims to make health insurance more affordable and accessible in digital India.
As the retail health insurance market is one of the fastest-growing segments with a CAGR of 18%, FlashAid has partnered with over 20 platforms, distributing over 30,000 health covers and is profitable at the EBITDA level. With an expected annual run rate of $10 million in the next two years, the company plans to expand to six new cities with the fresh funding received.
Gunjali Kothari, co-founder at FlashAid, stated, “With an expected 30% surge in digital platform adoption by 2030, a significant opportunity emerges to align the ecosystem towards providing scalable solutions that promote health equity in India. We’re actively embracing this digital evolution through our API-centric strategy, which resonates with the shifting behaviors of customers in the process of purchasing and accessing healthcare services.”
