Insurance-Tech Startup Coverfox raises $22 Mn in Series C Funding
India's online insurance platform, Coverfox has managed to secure $22 million in a series C fundraising exercise led by IFC, a World Bank off-shoot, and Transamerica.
Some of the company's existing investors also participated in the round. Company's former fundraising round that combined Series A and B together had received $17 million from leading investors such as Accel, SAIF Partners and Cataraman Ventures, the VC firm owned by Infosys fame Narayan Murthy.
The company was founded by Devendra Rane in 2013 and offers proprietary technology and algorithm based platform to buy and compare policies across leading insurance companies. It has integrated successfully with more than 35 insurers and currently providing 150 policies in life, motor, and health insurance.
Pramansh...