About Bima Mandi
Bima Mandi is a Financial Services company based in Mumbai (India) founded in 2020 by Rajendra Sawant, Chirag Jain, and Sunil Devdas. Health insurance services are provided by Bima Mandi in India. Bima Mandi has raised $896.19 thousand across 1 funding round from investors including Arkfin Investments, Ahmednagar Ventures and Ceramet Consultants. The company has 1 employees. Bima Mandi was last valued at $10.61 million in June 2020. Its Indian entity Turanth Suraksha Insurance Web Aggregator Private Limited reported revenue of ₹2.11 Cr. Its focus areas include FinTech, Internet First Insurance Platforms, Insurance Comparison Platforms and Diversified. Its competitors include Policybazaar, InsuranceDekho and PB Fintech; 2 of its 3 listed competitors have raised funding.
Company details
Bima Mandi was established in 2020 and is headquartered in Mumbai, India. Health insurance services are delivered through its online platform, targeting individuals and groups in the insurance sector. Coverage options for medical needs are offered across various plans. The company is led by co-founders Rajendra Sawant, Chirag Jain, and Sunil Devdas. Operations remain focused on the Indian market, with services tailored to local requirements.
- Headquarters Mumbai, India
- Employees 1
- Founders Rajendra Sawant, Chirag Jain, Sunil Devdas
- Stage Minicorn
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website bimamandi.in
- Social LinkedIn
- Legal Name Turanth Suraksha Insurance Web Aggregator Private Limited
- Date of Incorporation 21 Apr, 2020
- Jurisdiction Mumbai, Maharashtra, India
- Annual Revenue₹2.11 Cr
FY 2025 · -82% YoY
- Net Loss-₹18.9 Lakh
FY 2025 · -9% margin
- EBITDA₹68.5 Lakh
FY 2025 · 33% margin
- Total Equity Funding$896.19K (USD)
in 1 rounds
- Latest Funding Round$896.19K (USD), Seed
Jun 2020
- InvestorsArkfin Investments
& 82 more
- Employee Count1
Associated legal entities of Bima Mandi
Bima Mandi is associated with 2 registered companies on The Company Check; the primary company is Turanth Suraksha Insurance Web Aggregator Private Limited. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Turanth Suraksha Insurance Web Aggregator Private Limited CIN U66000MH2020PTC339503 | Active | 21 Apr 2020 | Mumbai, Maharashtra | ₹2.1 Cr | 3 | View details | |
| Terranua Insurance Brokers Private Limited CIN U66220MH2023PTC401514 | Active | 24 Apr 2023 | Borivlai East, Maharashtra | ₹6.6 Cr | 2 | View details |
Funding Insights of Bima Mandi
Bima Mandi has successfully raised a total of $896.19K through 1 strategic funding round. The most recent funding activity was a Seed round of $896.19 thousand completed in June 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $896,187
- Total Rounds 1
- Last Round Seed — $896,187
- First Round $896,187
(Jun 2020)
- Investors Count 83
All 1 funding rounds of Bima Mandi with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun 2020 | $896,187 | Seed | $10.61M | Arkfin Investments, Ahmednagar Ventures |
| Date | Valuation | Stage |
|---|---|---|
| Jun 2020 | $10.61M | •••••••• |
Last known valuation $10.61M (Jun 2020). 83 investors in total: 4 institutional and 79 angel.
Investors in Bima Mandi
Bima Mandi has secured backing from 83 investors, including institutional and angel investors. Prominent investors backing the company include Arkfin Investments, Ahmednagar Ventures and Ceramet Consultants.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Management consulting services are provided to businesses. | Mumbai, India | |||
NR Nav Ratan Bhaiya | unknown_ce11ffe8522248f78 | |||
TB Tinifia Basra | unknown_ef462918c69b4deba | |||
UK Ushadevi Kumar | unknown_eced0cc659c742bd9 | |||
MR M Rekha | unknown_f5772c5a151b435fa | |||
MK Meenachitra Kumar | unknown_dcca08201f55463cb | |||
NT Namrata Tiwari | unknown_e08b5f90e83d44e6b | |||
BJ Bo Jingen | unknown_3fc58fac481d4dbda | |||
BK Brajesh Kumar Gutgutia | unknown_b1e8ab7979954b56b |
Investor details for Bima Mandi
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Turanth Suraksha Insurance Web Aggregator Private Limited (Bima Mandi)
Turanth Suraksha Insurance Web Aggregator Private Limited is the primary company behind Bima Mandi. The boards of the 2 registered companies of Bima Mandi currently have 5 directors; the longest-serving is Satish Thakurdas Sawnani, appointed in 2020. 10 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Satish Thakurdas Sawnani DIN 03199130 | Director | 21 Apr 2020 | 6 yrs 6 mo | Turanth Suraksha Insurance Web Aggregator Private Limited |
| Rajendra Jaysing Sawant DIN 02777365 | Director | 01 Aug 2022 | 4 yrs 3 mo | Turanth Suraksha Insurance Web Aggregator Private Limited |
| Amit Prakash DIN 01085319 | Director | 24 Apr 2023 | 3 yrs 6 mo | Terranua Insurance Brokers Private Limited |
| Vishal Manohar Desai DIN 10510894 | Director | 24 Jan 2024 | 2 yrs 9 mo | Terranua Insurance Brokers Private Limited |
| Vivek Vishwas Karulkar DIN 07537227 | Director | 09 May 2024 | 2 yrs 6 mo | Turanth Suraksha Insurance Web Aggregator Private Limited |
People of Bima Mandi
3 people are tracked at Bima Mandi (3 in leadership); the tracked headcount is 1.
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
Chirag Jain | Co-Founder | Leadership |
| Co-Founder | Leadership |
Complete people profiles for Bima Mandi
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Bima Mandi
Figures of Turanth Suraksha Insurance Web Aggregator Private Limited, the primary company behind Bima Mandi, for FY 2025. Revenue was ₹2.11 Cr (-82% year on year). Net loss was -₹18.9 Lakh (-9% margin). EBITDA was ₹68.5 Lakh (33% margin). Revenue has grown at a compounded annual rate of +53% over three years.
- ₹2.11 CrRevenue · FY 2025 · -82% YoY
- -₹18.9 LakhNet loss · -9% margin
- ₹68.5 LakhEBITDA · 33% margin
- ₹4.40 CrPaid-up capital
- +53%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Turanth Suraksha Insurance Web Aggregator Private Limited are on its company page.
Detailed financial statements for Bima Mandi
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of Bima Mandi
3 dated milestones of Bima Mandi, from founding to its latest funding, stage changes and deals.
- Founded Bima Mandi is founded.
- Funding First funding round of $896K.
- Milestone Reaches Minicorn status.
Competitors of Bima Mandi
Bima Mandi has 3 listed competitors in our database, 2 of them funded. They include Policybazaar, InsuranceDekho and PB Fintech.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| policybazaar.com | 2008 | Gurugram, India | 24,206 | Insurance plans are compared and purchased via an online marketplace. | ||
| insurancedekho.com | 2016 | Gurugram, India | $394.5M | 2,077 | Online insurance policies are compared and purchased through the platform. | |
| pbfintech.in | 2008 | Gurugram, India | $443.26M | 286 | Online platform for insurance and lending products is operated. |
Detailed competitors of Bima Mandi
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Top companies in Insurance Providers
3 companies that operate in the same segment as Bima Mandi (Insurance Providers) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
General and life insurance products are provided across multiple categories. | 2016 | Bengaluru, Karnataka, India | USD 462.45 M | USD 1.12 B | 4,589 | |
Insurance products for vehicles, health, travel, and life are offered. | 2016 | Bengaluru, Karnataka, India | USD 746.17 M | USD 216.04 M | 1,306 | |
Insurance plans are compared and purchased via an online marketplace. | 2008 | Gurugram, Haryana, India | USD 702.78 M | 31,422 |
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Frequently Asked Questions about Bima Mandi
Bima Mandi was founded in 2020.
Bima Mandi is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Bima Mandi is a funded company, having raised a total of $896.19K across 1 funding round to date. The company's 1st funding round was a Seed of $896.19K, raised on Jun 2020.
Bima Mandi has 1 employees.
The primary company behind Bima Mandi, Turanth Suraksha Insurance Web Aggregator Private Limited, reported revenue of ₹2.11 Cr for FY 2025, down 82% year on year.
Bima Mandi was established in 2020 and is headquartered in Mumbai, India. Health insurance services are delivered through its online platform, targeting individuals and groups in the insurance sector. Coverage options for medical needs are offered across various plans. The company is led by co-founders Rajendra Sawant, Chirag Jain, and Sunil Devdas. Operations remain focused on the Indian market, with services tailored to local requirements.
Bima Mandi's top competitors include Policybazaar, InsuranceDekho and PB Fintech.
Bima Mandi has 83 investors. Key investors include Arkfin Investments, Ahmednagar Ventures, Ceramet Consultants, Aidanlabs, and Nav Ratan Bhaiya.
The valuation of Bima Mandi is $10.61M as of Jun 2020.
Bima Mandi is associated with 2 legal entities: Turanth Suraksha Insurance Web Aggregator Private Limited, Terranua Insurance Brokers Private Limited.
The legal entities of Bima Mandi currently have 5 directors, including Vivek Vishwas Karulkar, Satish Thakurdas Sawnani, Rajendra Jaysing Sawant and others.