Insurtech startup Zopper has raised $75 million in Series C funding led by Creaegis and the ICICI Venture and Bessemer Venture Partners. Existing investors Blume Ventures and Tiger Global also participated in the round. The funds raised will allow Zopper to further enhance the SaaS platform and data analytics capabilities, build a next-generation data engineering team, drive business development initiatives, pursue inorganic growth, and explore opportunities in international markets.
Funds raised will allow Zopper to further enhance its SaaS platform and data analytics capabilities, build a next-generation data engineering team, drive business development initiatives, pursue inorganic growth and explore opportunities in international markets.
“Our deep understanding of technology, data and insurance products has led to the development of the next generation of SaaS-enabled delivery platforms. The insurance industry has yet to witness the use of such technology-enabled products. Through its platform, Zopper connects partners and insurers to spearhead a major transformation in the insurance distribution space. The company has grown exponentially over the past four years and continues to grow at a tremendous pace.”, said Surjendu Kuila, co-founder and CEO of Zopper.
Zopper aims to revolutionize insurance sales through its SaaS platform, deep integration layers and data analytics capabilities. With more than 150 partners and presence in more than 1,200 cities, the company aims to reach $500 million in annual gross premiums (GWP) by March 2024.
The company said in a statement:
“We believe technology will play a key role in improving sales efficiencies and increasing the penetration of insurance and insurance products. We are confident that we are well positioned to capitalize on the growth opportunities,” said Gagandeep S. Chhina, Director of Private Equity at ICICI Venture.
Founded in 2011, the Zopper is an embedded insurtech platform aimed at democratizing access to insurance sales via a SaaS platform.
