Mumbai-based insurance platform Finhaat has raised $3 million in its seed funding round led by Omnivore, with participation from Kettleborough VC, the company said in a statement.
Founded in June 2022, Finhaat utilises its proprietary distribution infrastructure to deliver digital insurance services, targeting underserved groups such as rural communities and middle- to low-income populations in tier 2 and 3 cities.
The startup is building a B2B insurance distribution and servicing platform for institutions working with the underserved, including NBFCs, MFIs, BC networks, Nidhi companies, cooperatives, NGOs, and FPOs.
“Our operations already cover over 65% of pin codes in India. With this round, we hope to expand further by building robust technological models, enriching product experience, introducing innovative products, enhancing our partner base, and hiring resources for new verticals. We are determined to transform the financial services space for the underserved,” said Vinod Singh, co-founder, Finhaat.
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