Pazcare offers employee health, term and accident insurance plus outpatient health benefits via a B2B platform. It monetizes from service providers through commissions and currently serves more than 130,000 members across over 500 companies. The company reports quarter-on-quarter growth of 100% and counts enterprise clients including Mindtickle, Mamaearth, Levi’s, Cash Karo and Open Financial. Founded in 2021 by Sanchit Malik and Manish Mishra and based in Bangalore, Pazcare has raised about $12 million to date. The startup plans to bring 2,000 more companies onto its platform over the next few quarters and will use new funding to expand offerings and double its team size. The founders started Pazcare to increase employer-driven insurance penetration in India by simplifying access to employer-provided benefits. Pazcare provides a real-time platform for employers and employees to personalise and manage employee benefits via an employer dashboard and an employee app. Its offerings include insurance management, mental health solutions, virtual doctor consultations and comprehensive blood tests. The company says it is growing 100% month-on-month and currently serves over 150 corporates and about 80,000 users. Pazcare plans to onboard 500 corporates over the next two quarters and aims to touch the lives of over three million employees in the next three years. The new capital is intended to accelerate product development, expand into new benefit categories beyond healthcare, and fund hiring across functions.

Total raised

$12M

Funding rounds

2

Latest round

Equity

Latest activity

Jun 2022