Insurtech startup Bharatsure raises Rs 6 Cr led by IPV

Bharatsure, an insurtech startup offering infrastructure-as-a-service (IaaS) solutions, has raised Rs 6 crore in a funding round led by Inflection Point Ventures (IPV) with participation from Capital A and Atrium Angels. 

The proceeds will be used to scale its insurance infrastructure and expand embedded and group insurance offerings across India.

Founded by Anuj Parekh and Sanil Basutkar, Bharatsure operates as an Infrastructure-as-a-Service (IaaS) platform that enables businesses, SMEs, and partner-led ecosystems to embed group and modular insurance products directly into their offerings. 

Its business model revolves around partnering with organizations to provide scalable insurance infrastructure, employee benefits, and wellness solutions, earning revenue through policy distribution, premium commissions, and value-added insurance technology services.

With over 1,500 stations and 70,000 drivers in 50 cities, the startup claims to have covered over 2,00,000 lives and processed 10,000 with a 4.9/5 Google rating. It also claims to have doubled revenues in FY25, broken even at CM3, and is targeting Rs 100 crore revenue by FY28. 

It competes with other Insurtech players like SecureNow, BimaKavach, and Pazcare.

Recently, Bharatsure announced a partnership with Battery Smart, a battery-swapping network for EVs, to launch natural calamity insurance for station partners covering fires, floods, earthquakes, and personal accidents.