Toffee Insurance, a digital first insurtech startup, has secured series A funding of $ 5.5 million. This funding round was led by IVM Intersurer with Omidyar Network, Flourish Ventures, Accion Ventures Lab and Kalaari Capital.
This is Toffee Insurance’s second consecutive raise from four of the five key investors after their initial funding round of $1.5 million last year. Rohan Kumar, CEO & Co-Founder, Toffee Insurance said: “Our goal is to unbundle products and repackage them in a consumer-friendly way, focussing on the benefits of insurance to make it almost like a commoditised way to sell insurance rather than a financial product.”
Source: Business Line
Date: 18th December, 2019