Zopper, a Noida-based insurance infrastructure API platform, has raised $25 million in its Series D funding round. The round was led by Elevation Capital, Dharana Capital, and Blume Ventures, marking the company’s first funding event in over two years.
The 13-year-old company plans to utilize the funds to enhance its digital insurance distribution platform, improve post-sales operations, and strengthen its bancassurance solutions. According to a press release, the investment will also help scale Zopper’s device and appliance protection services.
Zopper previously raised $75 million in a Series C round in September 2022, led by Creaegis, with participation from ICICI Venture, Bessemer Venture Partners, Tiger Global, and Blume Ventures.
Zopper has transitioned significantly over the years. Initially operating as a customer-focused PoS system for retailers and SMBs, the company pivoted following its acquisition by Walmart-owned PhonePe in 2018. Co-founders Surkendu Kulia and Mayank Gupta transformed Zopper into a SaaS platform enabling consumer internet companies to offer tailored insurance solutions.
Today, Zopper collaborates with over 40 insurance companies and 2,500 ecosystem partners, offering end-to-end technology and services that simplify insurance distribution. The new funding underscores its position as a key player in India’s growing insurtech landscape.
