Gurugram-based insurtech startup Toffee Insurance, on Wednesday (December 17), announced that it has raised $5.5 Mn in a Series A funding round led by IVM Intersurer, Omidyar Network, Flourish Ventures, Accion Venture Lab and Kalaari Capital.
The company will be utilising the funds to expand its product portfolio, improve merchant and customer experience, enhance technology and increase distribution efficiency.
Founded in 2017, Toffee Insurance was started by Nishant Jain and Rohan Kumar. The company aims to make insurance accessible and affordable by creating relevant products in the insurance value chain. Previously, the company has raised $1.5 Mn (INR 10 Cr) in a seed funding round led by Kalaari Capital, Omidyar Network and Accion Venture Lab.
Read more at Inc42.