Insurtech startup Bimaplan raises $3.5 M led by Orios Venture Partners

Bimaplan, a startup in insurance technology based in Mumbai and Bengaluru, has raised USD 3.5 million in a pre-Series-A funding round led by Orios Venture Partners with participation from existing investors Finsight Ventures and 2am VC. With this, Bimaplan has raised USD 6 million in funding till date. The company, backed by startup accelerator Y Combinator, will use the fresh capital to improve its technology platform as it launches new products for customers. The company aims to strengthen its distribution network by expanding channels and launching new verticals. The company has 50 employees. It plans to hire talent across product, technology, and sales departments. Bimaplan works with organisations serving rural and semi-urban customers as a channel partner to sell insurance products.