[Funding alert] Insurtech Startup MetaMorphoSys raises $3 mn in funding

MetaMorphoSys, an Insurtech startup has raised $3 million in its Pre-Series A funding round from Capital 2B along with angel investors–Pavitar Singh and Dhruv Dhanraj Behl. 

The startup plans to use the funds to grow and enhance its platform, expand the product offering, and grow the sales team across geographies. . It will also use the fresh capital in building legacy integrations.

The Pune-based MetaMorphoSys Technologies was founded in 2016 by Amit Naik Naik and Kewal Vargante, It is a business-to-business (B2B) SaaS insurance platform that helps insurers launch multiple insurance products for travel, motor vehicle, property, life and business.

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Its platform is integrated with the legacy systems of insurance companies, while its APIs streamline the experience of its customers from onboarding to servicing to processing claims.

“The insurance industry is accelerating investments in digital platforms. Leading insurance companies across the globe are using the MetaMorphoSys Digital Insurance Platform to launch innovative products, empower their sales force, settle claims, identify fraud and optimize the entire value chain from customer acquisition to customer engagement including embedded insurance. We are thrilled by the trust instilled in us by our customers & investors as we continue our journey to streamline the insurance ecosystem," said Amit Naik, CEO and co-founder, MetaMorphoSys Technologies.

The startup claims to provide services to insurance companies based in Hong Kong, Singapore, Indonesia, Vietnam and India.

“Insurers across the world are embarking on a digital transformation journey to ensure proactive and instant customer service. MetaMorphoSys middleware platform integrates with legacy systems of insurers and the ready APIs ensure digital customer journeys can be accelerated for onboarding, servicing, and processing claims. Global insurance companies are using the platform to quickly launch new insurance products and improve time to market. This round of funding shall help MetaMorphoSys further innovate and scale its vertical SaaS platform to many leading insurers in India and Asia Pacific," said Amit Behl, Partner, Capital 2B.

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In may 2020, MetaMorphoSys had raised funding in seed round from Good Capital.VC (Rohan and Arjun Malhotra) and Rahul Khanna, co-founder and managing partner, Trifecta Capital.

About MetaMorphoSys Technologies

MetaMorphoSys Technologies is an InsurTech focused on creating innovative software products to address the challenges of the global Insurance Industry.

They are leveraging their domain expertise, regulatory knowledge and technology experience to architect innovative products and disrupt the Insurance value chain from Customer Acquisition to Engagement.