BimaPay Bags $2 Mn To Expand Its Operations, Offerings

Insurtech startup BimaPay has raised USD 2 million (approximately Rs 16.7 crore) in a funding round led by LC Nueva Investment Partners. The funding will support BimaPay's mission to deepen its impact in the financial inclusion and insurance ecosystem through technological advancements.

Founded by Hanut Mehta, Mohit Gupta, and Kapil Garg, BimaPay specializes in digital lending with real-time processing, targeting various use cases to enhance accessibility and affordability in the insurance sector. 

The startup aims to use the new capital to scale its operations, improve its technology infrastructure, and expand its reach to underserved markets, ensuring broader financial inclusion across the country.