Zopper Raises $25 Million in Series D Funding

Insurtech platform Zopper has raised $25 million in a Series D funding round, co-led by Elevation Capital and Dharana Capital, with participation from existing investors including Blume Ventures. The company plans to use the funding to enhance its digital technology infrastructure and strengthen its insurance distribution platform, as well as invest in data science, AI, and machine learning capabilities. Zopper aims to accelerate growth in its bancassurance solutions and improve post-sales and servicing for its device and appliance protection businesses. Currently, Zopper collaborates with 40 insurance companies and over 2,500 ecosystem players, utilizing more than 1,000 APIs to transform the insurtech landscape in India. The company has raised over $115 million to date, marking a significant milestone in its development since its pivot to a SaaS model after being acquired by PhonePe in 2018. Zopper focuses on creating personalized, bite-sized insurance products for distribution partners, enhancing customer experiences across the market.