Finsall, a startup prioritizing insurance-based Buy Now, Pay Later (BNPL) services, has secured Rs 15 crore ($1.8 million) in a bridge round led by Unicorn India Ventures and Seafund, alongside other institutional investors. This round follows a pre-Series A round in January 2022 where Unicorn India Ventures and Seafund spearheaded a Rs 12 crore ($1.45 million) investment in Finsall.
According to a press release by the company, the funds will be utilized to establish a Non-Banking Financial Company (NBFC) aimed at expanding lending operations and enhancing customer benefits in insurance premium financing.
Finsall has introduced a Credit as a Service (CaaS) platform, offering a streamlined model for customers to access credit for insurance products without the need for complex credit or lending software systems.
Reportedly, Finsall has experienced remarkable growth, boasting a 9X increase in revenue over the past two years. The company serves customers across 8,000 locations in India, particularly witnessing substantial growth in non-life insurance segments.
In the fiscal year 2024, Finsall achieved an average month-on-month growth rate of 18% in insurance premiums. The company projects a fourfold revenue increase for fiscal year 2025, staying on course with its targets.
 services, has secured Rs 15 crore ($1.8 million) in a bridge round led by Unicorn India Ventures and Seafund, alongside other institutional investors...){kind=link}