Zopper raises $75 million funding: By Creaegis
For the $75 million series C funding round for the insuretech firm Zopper, Creaegis served as the lead investor alongside Bessemer Venture Partners and ICICI Venture.
Zopper’s co-founder and CEO, Surjendu Kuila, recently announced that the business has obtained funding to speed up its growth.
For more than five years, Zopper has helped small and medium-sized businesses with their point-of-sale systems, billing, and payment processing. Zopper sold that IP to financial juggernaut PhonePe in the middle of 2018, but since then, the business has been working on a brand-new project independently from PhonePe.
Zopper, a business that has been operating for eleven years, has generated $96 million to far. There was no mention of the price at which the round was declared over.
In partnership with healthcare professionals, Zopper creates bite-sized, customised products that are subsequently made available to distribution partners. Zopper differentiates itself from its Indian competitors by using a different strategy than those businesses that similarly combine coverages from various manufacturers in order to avoid distributors and sell directly to end consumers.
According to Surjendu Kuila, the founder and CEO of Zopper, “the coverage of insurance in India now is just 3 to 4%.” “You simply cannot sell them programs that are priced above $37 to $50 a year if you’re attempting to attract new individuals into the fold of insurance.”
We will be able to snag a larger portion of clients’ wallets thanks to the data produced by all of our collaborations. Help the client increase their existing income by an additional ten to fifteen percent as a result, Kuila advised.
In response to an increase in demand from international players for its platform, Zopper, whose most recent fundraising round was in 2014, took place eight years ago, is also aiming to expand to other regions. In this fiscal year or the first quarter of the following fiscal year, “We are aiming to deploy our solutions in a handful of different geographies,” said Kuila.
By developing strategic partnerships with businesses like banks, non-banking financial institutions, retail chains, and mobility corporations that already have captive customer bases, Zopper is attempting to solve the issues facing insurance companies.
Zopper is a full stack insurtech company that provides life care for electronic appliances and consumer durables. Zopper has partnered with more than half a dozen insurers to create industry relevant warranty and device protection plans in the consumer durable and mobile devices space.
When was Zopper founded?
Zopper was founded in 2011.
Who is the founder of Zopper?
Surjendu Kuila is the founder and CEO of Zopper.
Is Zopper hiring?
Zopper is hiring for multiple positions like Product Manager, Backend Developer – Python Frameworks, Manager – Controller, Vice President – Brand Marketing etc.
What is the team size of Zopper?
As per the popular social media site LinkedIn, Zopper has 545 employees.
Where is the head office of Zopper?
Zopper headquarters is located at Plot 1 BGR Tower, Maharaja Agrasen Marg, Film City, Sector 16A, Noida, Uttar Pradesh 201301.
How much is the revenue of Zopper?
Zopper has crossed USD 100 million GMV sales clocking revenue of $2 million.
Zopper seems to be an interesting startup with spurring new development insurance platform. Congratulations on your startup. May this new business bring you huge success and fulfillment.
Shishir Gupta, Founder and CEO, StartupLanes
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