Insurtech platform Finhaat has successfully secured a $3 million Seed funding round led by Omnivore, with participation from Kettleborough VC. The startup specializes in offering digital insurance services, specifically aiming to serve underprivileged demographics, including rural communities and middle to low-income groups residing in tier 2 and tier 3 cities. Founded in June 2022, Finhaat initially focused on insurance as its primary product vertical. Its fundamental goal is to construct a B2B insurance distribution and servicing platform customized for institutions that cater to marginalized populations such as NBFCs, MFIs, BC networks, Nidhi companies, cooperatives, NGOs and FPOs.

The company emphasizes its distinctive APIs for swift policy issuance and a seamless end-to-end claims process, aiming to make insurance more accessible to all. In their statement, they underscored their dedication to broadening insurance availability to a larger customer base. Finhaat provides a SaaS-based digital platform designed to facilitate easy implementation and effective customer service for partner institutions.

Vinod Singh, Co-Founder of Finhaat, stated, “Our operations currently span across more than 65 percent of pin codes in India. Through this funding round, we aim to further expand by developing robust technological frameworks, enhancing product experiences, introducing innovative offerings, growing our partner network, and recruiting talent for new sectors”. Jinesh Shah, Managing Partner at Omnivore, emphasized the importance of Finhaat’s mission, expressing, “Finhaat is revolutionizing this landscape, and we are thrilled to support its goal of enhancing financial access and resilience for the millions who have been underserved by formal systems”.