PE Fund Investments
Insurtech co Onsurity raises $24-M from IFC, Nexus, Quona Capital
Bengaluru-based employee healthcare platform Onsurity has raised USD 24 million in a Series B funding round led by International Finance Corporation (IFC). Existing investors Nexus Venture Partners and Quona Capital also participated in the round. The insurtech startup will use the fresh funds to facilitate claims experience for its members. These funds will also bolster the startup's aim to forge partnerships with more than 50,000 companies. Founded in 2020 by Yogesh Agarwal and Kulin Shah, Onsurity offers subscription-based services that its customers can purchase and offer to their full-time employees, contractors, interns and consultants. The company, through its subsidiary, also offers cyber insurance, D&O liability insurance, and commercial general liability insurance.
From the Venture Intelligence PE-VC Deal Database: Between Mar-20 and Jun-21, Onsurity had raised previously over USD 17 M from Quona Capital, Nexus Venture Partners, AdvantEdge Partners, Whiteboard Capital, Others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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