About Bimaplan
Bimaplan is a Financial Services company based in Bengaluru (India) founded in 2020 by Vikul Goyal. Multiple insurance policies are enabled through a digital platform. Bimaplan has raised $6.63 million across 4 funding rounds from investors including We Founder Circle, Dream Incubator and EMVC. The company has 20 employees. Bimaplan was last valued at $13.6 million in October 2023. Its chief executive, as recorded, is Vikul Goyal. Its Indian entity Coverplan Technology Private Limited reported revenue of ₹2.4 Lakh. Its focus areas include FinTech, Insurance IT, Insurance Policy Solutions and Policy Administration.
Company details
An insurance technology platform was established in 2020 in Bengaluru, India. End-to-end integration of insurance products is provided, allowing multiple policies to be accessed seamlessly via digital channels. Operations focus on the insurance sector, with services designed for household users. Coverage is extended to vulnerable populations across India to support broader accessibility.
- Headquarters Bengaluru, India
- Employees 20
- Founders Vikul Goyal
- Stage Minicorn
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website bimaplan.co
- Social LinkedIn X Facebook
- Legal Name Coverplan Technology Private Limited
- Date of Incorporation 20 Jan, 2021
- Jurisdiction Bangalore, Karnataka, India
- Annual Revenue₹2.4 Lakh
FY 2025 · -100% YoY
- Net Loss-₹3.1 Lakh
FY 2025 · -125% margin
- EBITDA-₹1.9 Lakh
FY 2025 · -79% margin
- Total Equity Funding$6.63M (USD)
in 4 rounds
- Latest Funding Round$3.5M (USD), Seed
Oct 2023
- InvestorsWe Founder Circle
& 33 more
- Employee Count20
Associated legal entities of Bimaplan
Bimaplan is associated with 2 registered companies on The Company Check; the primary company is Coverplan Technology 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 |
|---|---|---|---|---|---|---|---|
| Coverplan Technology Private Limited CIN U72900KA2021FTC174278 | Active | 20 Jan 2021 | Bangalore, Karnataka | ₹0.0 Cr | 20 | 2 | View details |
| Purple Umbrella Fintech Private Limited CIN U62099KA2023PTC171678 | Active | 28 Mar 2023 | Bangalore, Karnataka | ₹24.6 Cr | 42 | 2 | View details |
Funding Insights of Bimaplan
Bimaplan has successfully raised a total of $6.63M across 4 strategic funding rounds. The most recent funding activity was a Seed round of $3.5 million completed in October 2023. 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 $6.63M
- Total Rounds 4
- Last Round Seed — $3.5M
- First Round $125,000
(Mar 2021)
- Investors Count 34
All 4 funding rounds of Bimaplan 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 |
|---|---|---|---|---|---|
| Oct 2023 | $3.5M | Seed | $13.6M | Orios Venture Partners, FinSight | |
| Jun 2021 | $2.5M | Seed | – | Amino Capital, Goodwater Capital | |
| Mar 2021 | $500,000 | Seed | – | Titan Capital | |
| Mar 2021 | $125,000 | Seed | – | – |
| Date | Valuation | Stage |
|---|---|---|
| Oct 2023 | $13.6M | •••••••• |
Last known valuation $13.6M (Oct 2023). 34 investors in total: 19 institutional and 15 angel.
Investors in Bimaplan
Bimaplan has secured backing from 34 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include We Founder Circle, Dream Incubator and EMVC.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital firm focused on early-stage investments | 2013 | oriosvp.com | Mumbai, India | |
Tech investment firm offering venture capital and support to startups in AI and related fields. | 2013 | finsightvc.com | New York, United States | |
Early-stage venture funding for sector-agnostic startups in India. | 2021 | 2amvc.com | Mumbai, India | |
Early-stage startups are accelerated via funding and educational programs. | ycombinator.com | Mountain View, United States | ||
Fintech venture capital investments in emerging markets, focusing on financial and commerce ecosystems. | 2018 | em.vc | Bengaluru, India | |
Investments are made in early-stage tech companies by Acequia Capital. | acecap.com | Seattle, United States | ||
Investments in consumer tech sectors are managed by Goodwater Capital. | goodwatercap.com | Burlingame, United States | ||
Investment in early-stage startups and global community support. | 2020 | wefoundercircle.com | Mumbai, India | |
Early-stage tech investments are targeted in US, China, and Europe. | aminocapital.com | Palo Alto, United States | ||
Dream Incubator is engaged in strategic consulting and business incubation. | 2000 | dreamincubator.co.jp | Chiyoda City, Japan |
Investor details for Bimaplan
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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- Round participation
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Verified entity values are shown only after access is granted.
Board of directors of Coverplan Technology Private Limited (Bimaplan)
Coverplan Technology Private Limited is the primary company behind Bimaplan. The boards of the 2 registered companies of Bimaplan currently have 2 directors; the longest-serving is Sanjay Jain, appointed in 2021.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Sanjay Jain DIN 07436287 | Director | 20 Jan 2021 | 5 yrs 9 mo | Coverplan Technology Private Limited, Purple Umbrella Fintech Private Limited |
| Vikul Goyal DIN 07224814 | Director | 20 Jan 2021 | 5 yrs 9 mo | Coverplan Technology Private Limited, Purple Umbrella Fintech Private Limited |
People of Bimaplan
17 people are tracked at Bimaplan (8 in leadership, 9 in team); the tracked headcount is 20.
| Name | Role | Group |
|---|---|---|
| Founder & CEO | Leadership | |
Ratan Nayak | Senior Vice President Sales Business Development | Leadership |
Yogesh Gupta | Chief Business Officer | Leadership |
Subir Jha | Vice President Sales Business Development | Leadership |
Chethana A | VP - Strategy | Leadership |
Preetika Mehrotra | Chief People Officer | Leadership |
Soumya Ranjan Sahoo | Assistant Vice President Operations | Leadership |
| Executive Director | Leadership | |
Pratish Nair | AVP Sales | Team |
Manoj Warrier | Regional Sales Manager | Team |
Rutuja Shengule | Manager-strategic Operations | Team |
chetan kohli | Senior Operations Manager | Team |
Paramita Das | Manager Operations | Team |
Adarsh Ramachandran | Inside Sales | Team |
Sumedha Chaudhry | AVP - Marketing | Team |
Shivangi Singh | Brand Designer | Team |
Mrinmoy Acharya | Inside Sales Executive | Team |
Complete people profiles for Bimaplan
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
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Verified entity values are shown only after access is granted.
Financials of Bimaplan
Figures of Coverplan Technology Private Limited, the primary company behind Bimaplan, for FY 2025. Revenue was ₹2.4 Lakh (-100% year on year). Net loss was -₹3.1 Lakh (-125% margin). EBITDA was -₹1.9 Lakh (-79% margin). Revenue has grown at a compounded annual rate of -81% over three years.
- ₹2.4 LakhRevenue · FY 2025 · -100% YoY
- -₹3.1 LakhNet loss · -125% margin
- -₹1.9 LakhEBITDA · -79% margin
- ₹91.6 LakhPaid-up capital
- 20Employees (provident fund records)
- -81%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Coverplan Technology Private Limited are on its company page.
Detailed financial statements for Bimaplan
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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- Downloads
Verified entity values are shown only after access is granted.
Timeline of Bimaplan
4 dated milestones of Bimaplan across 3 years, from founding to its latest funding, stage changes and deals.
- Founded Bimaplan is founded.
- Funding First funding round of $125K.
- Funding Latest funding round, Seed, of $3.5M.
- Milestone Reaches Minicorn status.
Top companies in Insurance Technology & Support Services
2 companies that operate in the same segment as Bimaplan (Insurance Technology & Support Services) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Insurance products for vehicles, health, travel, and life are offered. | 2016 | Bengaluru, Karnataka, India | USD 746.17 M | USD 216.04 M | 1,306 | |
API-enabled insurance distribution platform is provided for B2C companies. | 2011 | Noida, Uttar Pradesh, India | USD 120.6 M |
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Related news about Bimaplan
Complete news archive for Bimaplan
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Frequently Asked Questions about Bimaplan
Bimaplan was founded in 2020 and raised its 1st funding round 1 year after it was founded.
Bimaplan is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Vikul Goyal is the CEO of Bimaplan, as recorded in our data. They have also founded this company.
Bimaplan is a funded company, having raised a total of $6.63M across 4 funding rounds to date. The company's 1st funding round was a Seed of $125K, raised on Mar 2021.
Bimaplan has 20 employees.
The primary company behind Bimaplan, Coverplan Technology Private Limited, reported revenue of ₹2.4 Lakh for FY 2025, down 100% year on year.
An insurance technology platform was established in 2020 in Bengaluru, India. End-to-end integration of insurance products is provided, allowing multiple policies to be accessed seamlessly via digital channels. Operations focus on the insurance sector, with services designed for household users. Coverage is extended to vulnerable populations across India to support broader accessibility.
Bimaplan has 34 investors. Key investors include We Founder Circle, Dream Incubator, EMVC, 2am VC, and FinSight.
The valuation of Bimaplan is $13.6M as of Oct 2023.
Bimaplan is associated with 2 legal entities: Coverplan Technology Private Limited, Purple Umbrella Fintech Private Limited.
The legal entities of Bimaplan currently have 2 directors, including Sanjay Jain, Vikul Goyal.