VC Fund Investments
Insurtech platform Riskcovry attracts $4.5 M led by Dubai’s Morphosis
Bengaluru-based insurtech startup Riskcovry has raised about USD 4.5 million in a bridge round of funding, led by Dubai-based business-to-business (B2B) fund Morphosis Venture Capital. IIFL also participated in the round.The company plans to use the fresh funding to push towards profitability and eventually close its Series B round of funding. The firm intends to close the current financial year with a revenue of INR 30 crore, clocking a five-fold jump from the previous year.Riskcovry provides a tech platform to help businesses set up insurance distribution. It claims to have about 40 customers, including banks, home finance companies, non-banking finance companies, startups, and original equipment manufacturers.
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