Healthcare and insurtech startup FlashAid raises $2.5 Mn

Healthcare and insurtech firm Flashaid has raised $2.5 million in its pre-Series A funding round led by Piper Serica Angel Fund and global venture capital firm SOSV. Early-stage investors —Z21 Ventures Fund and ZNL Growth Fund also participated in this round.

The proceeds will be used for growth and expansion to six new cities, the company said in a press release.

Founded by Manoj Gupta and Gunjali Kothari, Flashaid offers a full-stack health solution with proprietary pre-underwritten products, open APIs, and embedded solutions.

Formerly known as EasyAspataal, Flashaid is building an API-first health cover to make health insurance affordable and accessible to common people. It is developing a distinctive channel for retail health plan distribution via a B2B2C platform. 

Over the last year, the firm claims to have partnered with over 20 platforms to distribute 30,000 health covers and is profitable at the EBITDA level. Currently, it has an ARR (annual run rate) of $1 million and is expected to grow to $10 million ARR in the next two years.