McXtra is a digital insurance-broking startup that enables users and their families to consolidate all insurance policies in a secure vault and offers services across health, motor, life, travel and home insurance. Founded by A S Narayanan and Nimish Airon, the app is available on Android and iOS App Store. The company says it has partnered with 30 corporate entities and is targeting their 1 lakh user base for its product. McXtra raised $1.3 million in a pre-Series A round from a clutch of 12 investors and will use the funds to scale its tech platform and expand user reach. The startup plans to leverage AI, big data and analytics for data-driven risk assessment and to predict consumer behaviour in order to offer tailored solutions. It competes in the Indian insurtech market alongside established players such as PolicyBazaar, Coverfox and Acko.

Total raised

$1M

Funding rounds

1

Latest round

Series A

Latest activity

Jul 2018