An Insurtech startup, Bimapay has successfully secured $2 million in the funding round led by LC Nueva  Investment partners. The funding round was led by LC Nueva investment partners through LC Nueva  AIF, which is a joint venture between Lighthouse Canton and Nueva Capital. BimaPay is a lending  service provider that facilitates personal loans for insurance premium payments through its partner  lenders. 

The startup aims to help individuals with various use cases aimed at enhancing accessibility and  affordability in the insurance sector. The company also helps brokers, agents, and POSPs to increase  their earnings by expanding their customer base. Founded by Hanut Mehta, Mohit Gupta, and Kapil  Garg, this startup offers digital lending with a real-time process. The startup’s goal is to ensure deeper  integration in India’s financial inclusion landscape with its cutting-edge technology. The startup offers flexible payment options to its customers to afford their insurance payments. 

The co-founder of BimaPay, Hanut Mehta, mentioned that the funding will help the startup to  revolutionize the industry through innovation and technology. The company will be using this funding  amount to accelerate its growth and make an impact on insulation penetration in India. The startup  provides financing solutions to healthcare sectors, garages, and policyholders. Kapil Garg, the co 

founder of BimaPay also showed his excitement to help the company grow further and make an impact  in insulation penetration in the country, with this investment. The startup aims to ensure deeper  penetration into India’s financial inclusion and insurance ecosystem.  

India is seeing growth in the Insurtech sector, with startups like BimaPay and Claimbuddy getting  support from investors and receiving investments to help them enhance their technological  capabilities with market presence, the future of this sector looks promising. The interest of investors  in this sector highlights the increasing importance of technology-driven solutions in huge insurance coverage companies across the country. The startup is planning to use the funding amount raised from  this round to deploy the new services in the market and expand its footprints in the financial and  insurance ecosystem with its cutting-edge technology. BimaPay addresses various use cases that aim  to improve accessibility and affordability in the insurance sector, ensuring a deeper penetration into  India’s financial inclusion landscape.

Conclusion: 

An Insurtech startup, Bimapay has successfully secured $2 million in the funding round led by LC Nueva  Investment partners. The funding round was led by LC Nueva investment partners through LC Nueva  AIF, which is a joint venture between Lighthouse Canton and Nueva Capital. BimaPay’s services extend  to hospitals, garages, and individual policyholders, bridging the gap between insurance claim  acceptance and payment. The startup’s goal is to ensure deeper integration in India’s financial inclusion  landscape with its cutting-edge technology.

The startup offers flexible payment options to its  customers to afford their insurance payments. India is seeing growth in the Insurtech sector, with  startups like BimaPay and Claimbuddy getting support from investors and receiving investments to  help them enhance their technological capabilities with market presence, the future of this sector  looks promising.