Insurtech’s Pazcare fetches $8.2 million funding led by Jafco Asia

Pazcare, a worker advantages and insurtech platform has secured $8.2 million in a fundraising spherical headed by Jafco Asia at a worth of $48 million. The spherical was additionally attended by present buyers 3One4 Capital and Beenext.

Pazcare will make the most of the funds for the enlargement of its enterprise and the development of its merchandise. Until now, it has raised $12 million.

Pazcare was based in 2021 by Sanchit Malik and Manish Mishra and supplies options for worker advantages and group medical insurance wants. They help firms in making educated choices concerning their staff’ healthcare necessities and in designing custom-made office advantages.

Up to now, the agency has insured workers from over 500 organizations, together with Mindtickle, Mamaearth, Levi’s, Money Karo, and Open Monetary.

“India’s economic system is experiencing certainly one of its most thrilling durations. The insurance coverage market will uplift at a breakneck tempo within the coming decade. We consider that employers will drive well being and life insurance coverage penetration,” commented, Sanchit Malik, co-founder, and CEO of Pazcare.