CoverSure and CirclePe Raise Early-Stage Funding Here are the Indian startups that announced early-stage funding rounds.
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Insurtech startup CoverSure Secures USD 4 Mn in a Pre-Series A
A consumer-focused insurtech startup, CoverSure, has raised USD 4 million in a pre-series A round led by Enam Holdings.
As per the official release, the raised funds will be used to build a consumer-centric insurance engagement platform using data intelligence and machine learning capabilities. This investment will support CoverSure's growth and expansion across India.
Founded in January 2023 by Saurabh Vijayvergia, CoverSure offers a personalised advisory service to existing policy holders as well as those new to insurance.
Utilising machine learning, it enhances the insurance experience across health, life, motor, and travel segments in an integrated way, including claims assistance and other services.
The platform claims to construct personalised insurance portfolios for individuals and families, providing clear and unbiased policy information. With a focus on simplified risk management, the platform assesses users' risk profiles and plans to introduce tailored insurance solutions in the coming months.
Saurabh Vijayvergia, Founder and CEO of CoverSure, said, "Our primary goal is to address the insurance penetration problem by empowering millions of Indians who are uncertain about their insurance coverage. Through our platform, we aim to simplify the user's lifetime experience towards insurance, not just the sales.
"The insurance problems of a family need an unbiased approach to solve them, and to that extent, we have built digital solutions with an intuitive app-first approach. At CoverSure, we are navigating people through personalised risk management dynamically, streamlined policy management, family care, etc while bridging protection gaps," he added.
Fintech Startup CirclePe Secures Close to USD 1 Mn in Pre-Seed Round
Fintech startup CirclePe announced that it has raised close to USD 1 million in its pre-seed round led by OTP Ventures, with participation from 1947 Rise, iSeed, IIT Delhi, Venture Catalyst, and founders and CXOs from OfBusiness, BharatPe, Uni Cards, OYO, and others.
Launched in 2022 by Navan Jaiswal and Ankur Yadav, CirclePe's 'Smart Renting' solution allows credit-worthy tenants to opt for a zero security-deposit move-in, enjoying the luxury of paying only their monthly rent without any extra charges.
By partnering with major proptechs, the Gurugram-based platform is enabling the smart renting feature for independent retail landlords and co-living operators, providing an easy and hassle-free rental experience.
Navan Jaiswal, Co-Founder at CirclePe, said, "We are on a mission to revolutionise the rental experience in India with a unique Fintech Play—very different from bonds and insurance products, which have faced high friction in a cash-first market like India. For the first time, credit-worthy tenants can opt for 'Smart Renting' at checkout while renting a house, giving them a zero deposit move-in and the luxury of paying only their monthly rent and no extra charges."
By eliminating the need for heavy security deposits paid by tenants and unlocking capital for landlords and co-living operators, CirclePe aims to disrupt the traditional rental value chain.
