Zopper raises $75 million in Series C funding

20 Sept 2022 , 01:24 PM

On Tuesday, the insurtech platform Zopper announced that it had secured $75 million in its Series C round of investment, which was led by Creaegis and included contributions from ICICI Venture and Bessemer Venture Partners.

The startup intends to use the new cash for innovative technologies, business development activities, inorganic growth through merger and acquisition (M&A), and international expansion. By March 2024, Zooper stated its goal of achieving an annualized Gross Written Premium (GWP) of $500 million. Blume Ventures, an existing investor, also took part in the round.

According to the platform, Tiger Global, which has a stake in the business, will keep providing assistance for expansion in the future. With the additional funding, Zopper will be able to grow a next-generation data engineering team, substantially strengthen its SaaS platform and data analytics capabilities, and support commercial development activities.

Zopper was founded in 2011 and is present in more than 1,200 cities. It has more than 150 ecosystem partners, including Amazon, Ola, Xiaomi, Croma, Hitachi, Equitas Small Finance Bank, Chaitanya, and others.

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