In a significant stride towards enhancing healthcare accessibility and affordability, healthcare and insurtech startup FlashAid has successfully raised $2.5 million in its pre-Series A funding round. The round was spearheaded by Piper Serica Angel Fund and backed by global venture capital firm SOSV, with early-stage investors Z21 Ventures Fund and ZNL Growth Fund also contributing.
This capital infusion marks a pivotal moment for FlashAid, empowering the company to fuel its growth and expansion strategy into six new cities, as outlined in its recent press release.
Co-founded by Manoj Gupta and Gunjali Kothari, FlashAid offers a comprehensive health solution ecosystem. It boasts proprietary pre-underwritten products, open APIs, and embedded solutions designed to streamline healthcare processes.
Previously operating under EasyAspataal, FlashAid aims to democratize health insurance, making it accessible to the masses through its API-first approach. By cultivating a unique channel for retail health plan distribution via a B2B2C platform, FlashAid is reshaping the landscape of healthcare insurance delivery.
With an impressive track record, FlashAid has forged partnerships with over 20 platforms, facilitating the distribution of 30,000 health covers within the past year alone. Remarkably, the company has achieved profitability at the EBITDA level, demonstrating the robustness of its business model.
Currently boasting an annual run rate (ARR) of $1 million, FlashAid is poised for exponential growth. Projections indicate a substantial increase to $10 million ARR within the next two years.
This latest funding round validates FlashAid’s innovative approach to healthcare insurance and underscores investor confidence in its potential to drive meaningful change within the industry. As FlashAid continues to expand its footprint and amplify its impact, it remains a formidable player in the ever-evolving realm of healthcare and insurtech.
