Insurtech platform Bimaplan raises $2.5 M from Amino Capital, Goodwater, others

Bengaluru-based insurtech platform Bimaplan has raised USD 2.5 million as part of its Pre-Series A funding round, taking the total capital raised by the startup to USD 3 million. The funding round saw participation from global venture capital firms Amino Capital, Goodwater Capital, Acequia Capital and EMVC, and angel investors Gokul Rajaram of Doordash, Arjun Sethi of Tribe Capital, Ashish Dave of Mirae Asset Venture Investments, and others. Bimaplan will use the new funds to build out its team, strengthen its product, and ramp up insurance distribution. Founded in November 2020 by Vikul Goyal, the startup provides financial security to 150 million underserved Indian households through relevant insurance products. It had raised USD 500,000 in a seed round in March, which saw participation from Y Combinator, FinSight Ventures, Kunal Shah of CRED and Jitendra Gupta of Jupiter.