About BimaPay
BimaPay is a Financial Services company based in Delhi (India) founded in 2021 by Hanut Mehta, Mohit Gupta, and Kapil Garg. It operates as an insurance premiums are financed online for individuals and businesses. BimaPay has raised $2 million across 1 funding round from investors including LC Nueva AIF. Its chief executive is Hanut Mehta. Its focus areas include FinTech, Internet First Insurance Platforms, Consumer Insurance Management and Premium Financing. Its competitors include Finsall, Mudrasure, The Policy Exchange and Insurfin; 2 of its 4 listed competitors have raised funding.
Company details
BimaPay was founded in 2021 in Delhi, India, within the fintech sector focused on insurance. An online platform is operated to provide premium financing for health, life, motor, and other insurance products, targeting individuals and businesses. Loans are extended against security solutions. Risk management consulting and user guides are offered to support operations across the region.
- Headquarters Delhi, India
- Founders Hanut Mehta, Mohit Gupta, Kapil Garg
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website bimapay.in
- Social LinkedIn X Facebook
- Annual Revenue$157.44 K (USD)628as on Mar 31, 2024
- Net Profit$2.28 K (USD)-33as on Mar 31, 2024
- EBITDA$55.04 K (USD)1108as on Mar 31, 2024
- Total Equity Funding$2M (USD)
in 1 rounds
- Latest Funding Round$2M (USD), Seed
May 2024
Associated legal entities of BimaPay
BimaPay is associated with 2 registered companies on The Company Check. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Bimapay Finsure Private Limited CIN U72900DL2022PTC396372 | Active | 08 Apr 2022 | Delhi, Delhi | ₹1.3 Cr | 17 | 5 | View details |
| Bima Pay Technology Private Limited CIN U72200DL2021PTC377273 | Active | 19 Feb 2021 | New Delhi, Delhi | ₹24.1 Cr | – | 2 | View details |
Funding Insights of BimaPay
BimaPay has successfully raised a total of $2M through 1 strategic funding round. The most recent funding activity was a Seed round of $2 million completed in May 2024. 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 $2M
- Total Rounds 1
- Last Round Seed — $2M
- First Round $2M
(May 2024)
- Investors Count 1
All 1 funding rounds of BimaPay 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 |
|---|---|---|---|---|---|
| May 2024 | $2M | Seed | – | LC Nueva AIF | – |
1 investors in total: 1 institutional.
Investors in BimaPay
BimaPay has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include LC Nueva AIF.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage startups are targeted for investment by this VC fund. | – | lcnuevaaif.tcc.mode | - |
Investor details for BimaPay
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
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Board of directors of BimaPay
The boards of the 2 registered companies of BimaPay currently have 7 directors; the longest-serving is Saurabh Garg, appointed in 2021. 4 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Saurabh Garg DIN 09125039 | Director | 30 Sep 2021 | 5 yrs | Bima Pay Technology Private Limited |
| Shelly Garg DIN 05100434 | Director | 30 Sep 2021 | 5 yrs | Bima Pay Technology Private Limited |
| Hanut Mehta DIN 09286256 | Director | 08 Apr 2022 | 4 yrs 6 mo | Bimapay Finsure Private Limited |
| Mohit Gupta DIN 09451518 | Director | 08 Apr 2022 | 4 yrs 6 mo | Bimapay Finsure Private Limited |
| Kapil Garg DIN 01716987 | Director | 11 Apr 2022 | 4 yrs 6 mo | Bimapay Finsure Private Limited |
| Tanvi Jawa DIN 10277780 | Director | 12 Aug 2023 | 3 yrs 2 mo | Bimapay Finsure Private Limited |
| Rajesh Jindal DIN 00376577 | Director | 12 Aug 2023 | 3 yrs 2 mo | Bimapay Finsure Private Limited |
People of BimaPay
4 people are tracked at BimaPay (4 in leadership).
| Name | Role | Group |
|---|---|---|
| Co-Founder & CEO | Leadership | |
| Co-Founder & CTO | Leadership | |
| Co-Founder | Leadership | |
| Director Of Finance | Leadership |
Complete people profiles for BimaPay
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Financials of BimaPay
Figures of Bima Pay Technology Private Limited, the primary company behind BimaPay, for FY 2025. Revenue was ₹24.08 Cr (+801% year on year). Net profit was ₹2.86 Cr (12% margin). EBITDA was ₹8.61 Cr (36% margin). Revenue has grown at a compounded annual rate of +57% over three years.
- ₹24.08 CrRevenue · FY 2025 · +801% YoY
- ₹2.86 CrNet profit · 12% margin
- ₹8.61 CrEBITDA · 36% margin
- ₹1 LakhPaid-up capital
- +57%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Bima Pay Technology Private Limited are on its company page.
Detailed financial statements for BimaPay
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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- Downloads
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Timeline of BimaPay
2 dated milestones of BimaPay across 3 years, from founding to its latest funding, stage changes and deals.
- Founded BimaPay is founded.
- Funding First funding round of $2.0M.
Competitors of BimaPay
BimaPay has 4 listed competitors in our database, 2 of them funded. They include Finsall, Mudrasure, The Policy Exchange and Insurfin, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| finsall.com | 2018 | Bengaluru, India | $3.86M | 50 | Insurance premium financing platform for individuals and businesses | |
| mudrasure.com | 1993 | Delhi, India | – | – | Insurance premium financing is facilitated via an app-based platform. | |
| thepolicyexchange.com | 2022 | Noida, India | $990,362 | 16 | Customized insurance technology solutions are offered for policy transactions. | |
| insurfin.in | 2022 | Bengaluru, India | – | – | Insurance premium financing is offered to individuals via SaaS platforms. |
Detailed competitors of BimaPay
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
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Web traffic of BimaPay
The website of BimaPay (bimapay.in) receives about 4.9K visits a month.
- Monthly visits4.9K
▼ 53.4% vs previous month
Top companies in Insurance Providers
10 companies that operate in the same segment as BimaPay (Insurance Providers), 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 | |
Provider of a cloud-based platform for life and P&C insurance | 2015 | New York, New York, United States | USD 644 M | USD 615.2 M | 1,471 | |
App-based health insurance is offered to individuals and businesses. | 2016 | Paris, Ile de France, France | USD 863.12 M | – | 1,606 | |
Auto insurance is delivered via app to individual drivers. | 2017 | London, England, United Kingdom | USD 161.3 M | USD 369.88 M | 625 | |
Online small business insurance policies are provided. | 2016 | Palo Alto, California, United States | USD 1.12 B | – | 549 | |
App-based comparison platform for financial products | 2009 | San Francisco, California, United States | USD 123.3 M | USD 836.6 M | 650 | |
Homeowners insurance coverage is delivered via an online platform. | 2015 | Palo Alto, California, United States | USD 709.36 M | USD 468.6 M | 640 | |
Online health insurance is provided to individuals and businesses. | 2012 | New York, New York, United States | USD 1.63 B | USD 11.7 B | 2,908 | |
Insurance plans are compared and purchased via an online marketplace. | 2008 | Gurugram, Haryana, India | – | USD 502.59 M | 31,422 |
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Related news about Bimapay
Complete news archive for BimaPay
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Frequently Asked Questions about BimaPay
BimaPay was founded in 2021 and raised its 1st funding round 3 years after it was founded.
BimaPay is headquartered in Delhi, India. It is registered at Delhi, Delhi, India.
Hanut Mehta is the current CEO of BimaPay. They have also founded this company.
BimaPay is a funded company, having raised a total of $2M across 1 funding round to date. The company's 1st funding round was a Seed of $2M, raised on May 2024.
Annual revenue of BimaPay is $157.44K as on Mar 31, 2024.
BimaPay was founded in 2021 in Delhi, India, within the fintech sector focused on insurance. An online platform is operated to provide premium financing for health, life, motor, and other insurance products, targeting individuals and businesses. Loans are extended against security solutions. Risk management consulting and user guides are offered to support operations across the region.
BimaPay's top competitors include Finsall, Mudrasure and The Policy Exchange.
BimaPay has 1 investor. Key investors include LC Nueva AIF.
BimaPay is associated with 2 legal entities: Bima Pay Technology Private Limited, Bimapay Finsure Private Limited.
The legal entities of BimaPay currently have 7 directors, including Saurabh Garg, Shelly Garg, Kapil Garg and others.