Finsall operates an insurance-first buy-now-pay-later (BNPL) product and a credit-as-a-service (CaaS) platform that enables merchants to offer insurance premium financing without building separate lending systems. The company plans to use the new capital to establish an NBFC to expand lending operations and broaden insurance premium financing options. Finsall reported ninefold revenue growth over the past two years and says its non-life insurance business has seen significant expansion. It serves customers across 8,000 locations in India. The company recorded an average month-over-month insurance premium growth rate of 18% in FY24 and projects a 4x revenue increase for FY25. The recent fundraising is intended to support that scaling and lending infrastructure build-out. Finsall is an insurance-focused fintech that provides an end-to-end technology process for insurance premium financing. Its core product is a software and multi-lender platform that enables customers to pay insurance premiums in instalments and allows banks and NBFCs to lend at affordable scales in a sustainable manner. The company connects customers, insurance intermediaries, insurance companies, banks and NBFCs to increase insurance penetration and reduce the burden of large one-time premium payments. Finsall was launched in 2018, is incubated under Kerala Startup Mission (KSUM), and is Bengaluru-based. The business was founded by Promod Khanna, Tim Mathews and Prabal Khanna. The firm recently raised ₹12 crore in a pre-Series A round and repaid KSUM ₹6 lakh that the nodal agency had funded in its formative years. Finsall provides insurance premium financing, making insurance premiums accessible and affordable to individuals, households, and enterprises. The company partners with banks and NBFCs to provide loans to customers and with insurance companies to streamline premium financing. Founded in 2018 by Promod Khanna, Tim Mathews, and Prabal Khanna, Finsall is led by co-founder and CEO Tim Mathews. It currently operates in major metropolitan areas from its Bengaluru base and plans to expand into Tier I cities and beyond. Finsall raised Rs 2.4 crore in a seed round led by Unicorn India Ventures with participation from SEA Fund and angel investors including Karthik Sridhar and Tirumala Gudla. The startup says it will use the capital to fund its India expansion and increase access to insurance for under‑insured and uninsured customers.

Total raised

$4M

Funding rounds

3

Latest round

Equity

Latest activity

Jun 2024