Flashaid Secures $2.5 Million to Expand Accessible Healthcare Solutions

FlashAid CoFounders
Preeti Bali / 2:04 pm / April 26, 2024

Flashaid, a company at the forefront of healthcare and insurance technology (insurtech), has secured $2.5 million in a pre-Series A funding round. The investment was led by Piper Serica Angel Fund, a venture capital firm specializing in early-stage ventures, and global venture capital leader SOSV. Additional participation came from Z21 Ventures Fund and ZNL Growth Fund, both known for their support of promising startups.

Fueling Expansion and Accessibility

The funds raised will be strategically allocated to fuel Flashaid’s growth and expansion plans. The company intends to leverage the capital to establish a presence in six new cities, significantly broadening its reach and impact.

A Full-Stack Approach to Healthcare Solutions

Founded by Manoj Gupta and Gunjali Kothari, Flashaid offers a comprehensive healthcare solution encompassing a variety of services. The company boasts proprietary pre-underwritten products, open APIs for seamless integration, and embedded solutions designed for optimal functionality.

Revolutionizing Health Insurance Distribution

Formerly known as EasyAspataal, Flashaid is pioneering a novel approach to health insurance accessibility. Their API-first health cover system is designed to make health insurance more affordable and readily available to the general public. The company is also developing a unique B2B2C platform to establish a distinct channel for the distribution of retail health plans.

Demonstrated Success and Ambitious Growth

Flashaid reports a successful track record, having partnered with over 20 platforms in the past year to distribute a total of 30,000 health covers. The company claims to have achieved profitability at the Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) level. Flashaid currently boasts an annual run rate (ARR) of $1 million and projects significant growth, aiming to reach a tenfold increase to $10 million ARR within the next two years.

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