BimaPe raises pre-seed round led by Lightspeed

BimaPe, a Mumbai-based insurtech startup that simplifies insurance for working professionals, has raised $545K in a pre-seed round led by Lightspeed. Titan Capital, iSeed and Gemba Capital also participated in the round.

The Rahul Mathur-led startup will use the proceeds to further develop the product, expand its team and invest in paid user acquisition. 

Founded in 2020, BimaPe enables users to manage their family’s insurance and they can get an overview of all their insurance policies, make claims, and discover several hidden insurance benefits from their bank cards and provident fund.

BimaPe has partnered with MeitY by integrating with DigiLocker. It will also integrate with account aggregator, health stack, and insurance companies in order to fetch policy documents on behalf of users and provide them with a personalised purchase experience.

According to Mathur, the startup is in the process of acquiring an insurance brokerage license. Since its inception, it claims to have onboarded over 12,000 users without paid acquisition.