Insurtech firm Zopper raises $25 Mn led by Elevation, Dharana and Blume

Zopper, an insurance infrastructure API platform, raised $25 million in a Series D funding round led by Elevation Capital, Dharana Capital, and Blume Ventures. The funds will be used to enhance Zopper’s digital infrastructure, focusing on strengthening its insurance distribution platform. The investment will also support the growth of its bancassurance solutions and improve post-sales and service operations for its device and appliance protection segments. Zopper, which initially operated as a customer-focused PoS system, pivoted to a SaaS platform enabling consumer internet companies to distribute insurance products. The company has partnered with 40 insurance companies and more than 2,500 ecosystem players. Zopper registered Rs 187.28 crore in revenue with a Rs 13.95 crore loss in FY23. The firm has raised more than $115 million to date, with Tiger Global holding a 28.39% stake as of the Series C round.