Insurtech startup Coverstack is preparing to raise around $11 million (approx. INR 92 crore) in its upcoming funding round, sources told Inc42.
The new round is expected to see participation from both existing investors and new backers. The company, which provides an API-led platform for digital insurance distribution, plans to use the capital to strengthen its technology, expand partnerships, and grow its market presence across India.
Founded in 2019 by Mayank Gupta and Saurabh Tiwari, Coverstack offers infrastructure that enables digital platforms, banks, NBFCs, and other partners to integrate and sell insurance seamlessly. The insurtech space in India has been witnessing significant traction as more players shift towards digital-first insurance solutions.
This fresh round comes at a time when the insurtech industry is gaining investor attention due to rising demand for embedded insurance and the adoption of tech-driven solutions.
Summary Table
| Detail | Information |
|---|---|
| Company | Coverstack |
| Industry | Insurtech / Digital Insurance Infrastructure |
| Founded | 2019 |
| Founders | Mayank Gupta & Saurabh Tiwari |
| Funding Amount | $11 Mn (approx. INR 92 Cr) |
| Funding Round | Ongoing (Investors undisclosed) |
| Use of Funds | Tech development, expansion, partnerships |
| Business Model | API-led insurance distribution platform |
| Market Focus | India – embedded and digital-first insurance |
