With the help of early-stage venture firm Kettleborough VC and Omnivore, insurance market firm Finhaat secured $3 million in its first institutional fundraise.
With the additional funding, the startup plans to establish internal procedures and controls, support company growth, and expand its technological platform.
“With the fresh funds we will scale up our operations with the target of onboarding one crore customers every year by the end of the next year. We will also be launching basic wellness services, doctor-on-call and the like,” said Vinod Singh, chief executive officer, Finhaat.
Finhaat began with the notion that everyone should be able to handle their finances confidently. Only easy access to financial goal-aligned solutions makes this possible.
Finhaat works with nearly all of the nation’s major insurance companies to distribute life, health, and general insurance solutions.
Finhaat is a financial services distribution marketplace that aims to link the solution supplier and the customer.
A financial product delivery platform called Finhaat was developed mainly for lower-class and developing middle-class consumers in rural, Tier 3 and Tier 4 cities. Through Finhaat Insurance Broking Pvt. Ltd., they provide the whole spectrum of insurance products on their insurance broking platform.