InsurTech startup SafeTree raises $1-M

New Delhi-based InsurTech startup SafeTree has raised $1 million from angel investors Shams Ahmed Parvaz and Faiz Shams. The startup aims to use the capital infusion to expand its team, strengthen product development, and enhance its technology interface. SafeTree will also use the funds to increase its geographical presence from 2 to 10 states and from 1,500 POS to 5,000 in the next 6 months.