Finsall, a BNPL company focused on insurance and situated in Bangalore, India, has raised INR 15 crore in bridge capital.
Leading the financing were Seafund and Unicorn India Ventures, with additional participation from other institutional investors.
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In order to provide key stakeholders, such as insurance companies, brokers, agents, and lending partners (Banks and NBFCs), with seamless digital experiences, the company plans to use the funds to develop intuitive, user-friendly interfaces. Additionally, it plans to forge more strategic alliances with intermediaries, lenders, and insurers in order to expand service offerings and improve distribution channels.
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Finsall is a new loan category that was created by Promod Khanna, Tim Mathews, and Prabal Khanna. Finsall is an insurance-first BNPL. It offers financing solutions to a “universal set of customers” that includes SMEs and gig economy individuals as well as high net worth individuals (HNIs). This is in contrast to fintechs that focus on a particular customer category, such as salaried, self-employed, or MSME owners.
At the past two years, the company has expanded nine times, and it now serves clients at 8,000 locations throughout India.
About Finsall
Finsall is an insurance-first BNPL, creating a new lending category.
