The IIFL Group’s early-stage investment vehicle, IIFL Fintech Fund, has invested $2 million in insurance technology startup Insurance Samadhan for a 16 per cent stake, valuing the platform at around $13 million.
The company added that it has already invested 50% of the fund’s Rs 210 crore corpus, making this the fintech fund’s 10th investment and its first in the insuretech sector. Samadhan is an online platform for complaints about life, health, and general insurance that are related to mis-selling, lapsed policies, policy rejection, fraud, or claim rejection.
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The IIFL Group’s early-stage investment vehicle, IIFL Fintech Fund, has invested $2 million in insurance technology startup Insurance Samadhan for a 16 per cent stake, valuing the platform at around $13 million.
The company added that it has already invested 50% of the fund’s Rs 210 crore corpus, making this the fintech fund’s 10th investment and its first in the insuretech sector. Samadhan is an online platform for complaints about life, health, and general insurance that are related to mis-selling, lapsed policies, policy rejection, fraud, or claim rejection.
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.
