Coverstack set to raise $11 Mn in new round

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Digital insurance company Coverstack, a B2B platform under the Coverfox Group, is set to raise Rs 95.7 crore (around $11 million) in a new round comprising both primary and secondary stake sales. This will be the company’s first major fundraise in the past five to six years.

The board at Coverstack has passed a special resolution to issue 19,216 preference shares and 3,187 share warrants at an issue price of Rs 33,827 each to raise Rs 75.78  crore in a primary round, its regulatory filing accessed from the Registrar of Companies (RoC) shows.

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Coverstack set to raise $11 Mn in new round


Digital insurance company Coverstack, a B2B platform under the Coverfox Group, is set to raise Rs 95.7 crore (around $11 million) in a new round comprising both primary and secondary stake sales. This will be the company’s first major fundraise in the past five to six years.

The board at Coverstack has passed a special resolution to issue 19,216 preference shares and 3,187 share warrants at an issue price of Rs 33,827 each to raise Rs 75.78  crore in a primary round, its regulatory filing accessed from the Registrar of Companies (RoC) shows.

Vistra…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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