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Wednesday, May 22, 2024

Flashaid secures $2.5 mn funding from Piper Serica Angel Fund and SOSV

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In Short:

Healthcare and Insurtech company Flashaid has secured $2.5 million in funding led by Piper Serica Angel Fund and SOSV. They plan to use the funds for expansion to six new cities. Flashaid, previously EasyAspataal, focuses on creating affordable health insurance by partnering with insurance companies and e-commerce platforms. Co-founder Gunjali Kothari believes in making the healthcare ecosystem more accessible and user-friendly. The company has partnered with over 20 platforms, providing 30,000 health covers and is profitable, with an annual run rate of $1 million. They aim to grow to $10 million ARR in the next two years.

Flashaid secures $2.5 million in funding to expand operations

Exciting news from Flashaid as they announce raising $2.5 million in a recent funding round. The pre-Series A funding was led by Piper Serica Angel Fund and SOSV, with participation from investors such as Z21 Ventures and ZNL Growth Fund.

Expanding to new cities

The company has big plans for this new capital infusion. They aim to use the funds primarily for growth and expansion to six new cities, bringing their innovative healthcare solutions to more people.

Revolutionizing health insurance in India

Founded by Manoj Gupta and Gunjali Kothari, Flashaid has been working on groundbreaking partnerships with insurance companies to create tailor-made products. They also collaborate with e-commerce platforms and brands to distribute insurance to their users, making health coverage more accessible than ever.

Driving innovation in the sector

Formerly known as EasyAspataal, Flashaid is on a mission to make health insurance affordable and accessible to digital India. By adopting an API-first approach, they are revolutionizing the way health benefits are distributed, paving the way for a more user-friendly healthcare ecosystem.

Future growth and expansion

Co-Founder Gunjali Kothari shared her vision for the future, stating, “With an expected surge in digital platform adoption by 2030, we have a significant opportunity to promote health equity in India. Our goal is to make healthcare more accessible and user-friendly for all.”

Impressive growth trajectory

Flashaid has already made significant strides in the past year, partnering with over 20 platforms to distribute 30,000 health covers. The company is profitable at the EBITDA level, with an annual run rate (ARR) of $1 million. They anticipate this figure to grow to $10 million ARR within the next two years.

Exciting times lie ahead for Flashaid as they continue to revolutionize the healthcare and insurance landscape in India!

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