Insurance platform Finhaat raises $3 Mn led by Omnivore

Insurance platform Finhaat has raised $3 million in seed funding led by Omnivore with participation from Kettleborough VC.

Through its proprietary distribution infrastructure, Finhaat provides digital insurance services to underserved groups, including rural communities and middle and low-income populations in tier II and tier III cities.

Finhaat began operations in June 2022 with insurance as its first product vertical. The startup is building a B2B insurance distribution and servicing platform for institutions working with the underserved, including NBFCs, MFIs, BC networks, Nidhi companies, cooperatives, NGOs, and FPOs.

The Mumbai-based firm has created a suite of unique APIs custom-built for the target segments for instant policy issuance and end-to-end claims process to democratize insurance and reach more customers.

Read more: Finhaat: A financial product delivery platform for rural areas

In June, impact venture capital firm Omnivore announced the first close of its third fund at $150 million. It has backed over 40 startups over the past decade including DeHaat, Arya, Stellapps, Reshamandi, Ecozen, Aquaconnect, and Pixxel.