Insurtech startup Ensuredit raises $4.2 mn from Cover Genius, others

Insurtech startup Ensuredit has raised USD 4.2 million (about Rs 33 crore) in a Pre-Series-A round led by Cover Genius, 9Unicorns, NexStep Discovery, CP Ventures, Venture Catalysts and IPV.

Existing investors also participated in the current round, the Gurugram and Bengaluru-based startup said in a statement on Tuesday.

Ensuredit is planning to utilise this fund to ramp up product offerings and expand the technology team, apart from deploying to create more customer-centric products, Amit Boni, founder and CEO of Ensuredit, said.

Founded in 2019 by Amit Boni, Rohit Sadhu, and Vikas Ranga, the platform aims to disrupt the insurance industry by utilising the power of technology and by working closely with insurance brokers, banks and NBFCs to enhance their sales force acquisition and productivity.

Ensuredit operates as PaaS (platform as a service) platform and has leading industry clients, including some of the largest brokers corporate agencies, NBFCs, and equity broking firms, among others.