VC Fund Investments
Insurtech platform Samadhan raises $3-M from IIFL VC, others
The IIFL Group's early-stage investment vehicle, IIFL Fintech Fund, has invested USD 2 million (around INR 16.5 crore) in Noida-based insurance technology startup Insurance Samadhan to acquire a 16% stake, valuing the platform at around USD 13 million (around INR 107 crore). Samadhan also received another USD 1 million from other investors in the series-A round. The funds will be used to build further tech and marketing. Samadhan deals with resolving insurance-related complaints such as mis-selling, lapsed policies, policy rejection, fraud or claim rejection in life, health and general insurance segments.
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