Insurtech Startup Onsurity Secures $45M Series B to Transform SME Insurance Solutions
Onsurity's $45 Million Series B Funding Round
Insurtech startup Onsurity, focused on small and medium enterprises (SMEs), has successfully completed its $45 million Series B funding round, led by private equity fund Creaegis. This round saw participation from existing investors, including the International Finance Corporation. The Series B funding is crucial for Onsurity as it aims to innovate and improve the financial solutions provided to Indian SMEs.
Utilization of Funds
In a press statement, the Bengaluru-based company announced plans to utilize the capital to:
- Launch new digital products
- Enhance tech capabilities
- Improve claims experience
- Develop fully digital greenfield products
These initiatives align with Onsurity's commitment to maintaining a 100% paperless insurtech model.
Impact on the SME Sector
The new funding round is set to significantly enhance Onsurity’s capacity to elevate customer experience and strengthen partnerships within the Banking, Financial Services and Insurance (BFSI) ecosystem. This strategic funding is expected to help Onsurity ensure their offerings reach a broader audience among SMEs.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.