Insurance-focused fintech platform Finsall said it has raised Rs 12 crore in a pre-Series A round from its existing investors – Unicorn India Ventures and SEA Fund, along with other bunch of investors.
The fresh round of funding will be deployed to scale the company’s technology platform and signing new insurance partners to expand its share in the Indian insurance premium financing market.
Finsall said it will also be looking to enter into lending partnerships with top banks and non-banking financial companies (NBFCs).
Finsall is an end-to-end technology process for insurance premium financing. They have built a multi-lender platform for banks and NBFCs so that lending can be done at scale and in a sustainable manner.
“We currently have customers in more than 500 cities pan India with a special focus on under-banked and underserved rural pockets. We have also opened financing for multiple products within the insurance industry to continue our scale up and build a strong business model," said Tim Mathews, Co-Founder and CEO, Finsall.
Real estate digital amenities provider Reloy has raised Rs 5 crore as a part of its pre-Series A funding led by Inflection Point Ventures, Fawkes Fund, the family office of Greenpanel & Greenlam, and other angel investors.
The company plans to use the capital for expanding operations and upgrading its product for a commercial launch.
“With the collective strength of the largest real estate companies coming together on our platform, we want to create a new type of housing. Consumer expectations have grown dramatically, while housing as a product hasn’t grown beyond the four walls.
The next type of housing is going to leverage digital amenities to solve unique homeowner problems and create conveniences around this asset ownership," said Akhil Saraf, Founder and CEO, Reloy.
Launched in 2018 by Saraf, Reloy is a real estate digital amenities and referral solutions provider which initially started as a loyalty platform that catered to enterprises across industries.
According to the company’s statement, it is looking to create conveniences in housing projects through its digital amenities. These digital amenities increase customer delight and boost referral sales by up to 200%.
