Bengaluru-based online insurance platform Toffee Insurance has raised $5.5 million in a Series A round led by IVM Intersurer along with Omidyar Network, Flourish Ventures, Accion Venture Lab, and Kalaari Capital also participated. The company would deploy the capital to expand its three areas, including data and product, merchant and customer experience, and lateral distribution.
Founded in 2017, Toffee Insurance is known to make insurance accessible and affordable by creating multiple innovative, single-event products in new categories. (Source)
