About McXtra
McXtra is a Financial Services company based in Mumbai (India) founded in 2015. It operates as an insurance-agnostic policy management app. McXtra has raised $1.57 million across 5 funding rounds from investors including Felix, Ajcon IT and Suman Shrivastava. The company has 57 employees. McXtra was last valued at $3.12 million in January 2019. Its focus areas include FinTech, Internet First Insurance Platforms, Consumer Insurance Management and Policy Management. Its competitors include CAMS Insurance Repository Services, Mudrasure, InsurePays, CDSL Insurance Repository Limited and iChain and 2 more; 1 of its 7 listed competitors has raised funding.
Company details
McXtra was founded in 2015 in Mumbai, India, within the insurtech sector. An app is provided by employers to employees and families for storing, tracking, and viewing policies in a secure vault. A dashboard is included to explain insurance terms and conditions. Geo-tracking enables location-based emergency services via the McXtra Red Button. 24x7 support is available, along with analysis of existing policies to suggest renewal options.
- Headquarters Mumbai, India
- Employees 57
- Stage Minicorn
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website mcxtra.com
- Social LinkedIn X Facebook
- Annual Revenue$7.46 M (USD)363as on Mar 31, 2024
- Net Profit-$2.18 M (USD)-1618as on Mar 31, 2024
- EBITDA-$1.83 M (USD)-555as on Mar 31, 2024
- Total Equity Funding$1.57M (USD)
in 5 rounds
- Latest Funding Round$14.92K (USD), Angel Round
Jan 2019
- InvestorsFelix
& 25 more
- Employee Count57
Associated legal entities of McXtra
McXtra 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 2022) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Reach Ajcon Financial Advisors Private Limited CIN U67190MH2014PTC251957 | Active | 10 Jan 2014 | Mumbai, Maharashtra | ₹0.3 Cr | – | 3 | View details |
| Reach Ajcon Technologies Private Limited CIN U74999MH2014PTC251917 | Active | 10 Jan 2014 | Mumbai, Maharashtra | ₹0.0 Cr | 4 | 3 | View details |
Funding Insights of McXtra
McXtra has successfully raised a total of $1.57M across 5 strategic funding rounds. The most recent funding activity was a Angel Round of $14.92 thousand completed in January 2019. 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 $1.57M
- Total Rounds 5
- Last Round Angel Round — $14,915
- First Round $108,263
(Apr 2015)
- Investors Count 26
All 5 funding rounds of McXtra 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 |
|---|---|---|---|---|---|
| Jan 2019 | $14,915 | Angel Round | $3.12M | Suman Shrivastava | |
| Mar 2018 | $1.3M | Seed | $3.28M | Felix, Felix Retail Creations | |
| Dec 2016 | $128,351 | Angel Round | $••••• | Rajiv Sawhney, Rakesh Bhatia | |
| Oct 2016 | $22,415 | Angel Round | $••••• | Rakesh Bhatia, Rakesh Bhatia | – |
| Apr 2015 | $108,263 | Seed | $••••• | – |
| Date | Valuation | Stage |
|---|---|---|
| Jan 2019 | $3.12M | •••••••• |
| Mar 2018 | $3.28M | •••••••• |
| Dec 2016 | $••••• | •••••••• |
Full valuation and stage history of McXtra
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
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Verified entity values are shown only after access is granted.
Last known valuation $3.12M (Jan 2019). 26 investors in total: 4 institutional and 22 angel.
Investors in McXtra
McXtra has secured backing from 26 investors, including angel and institutional investors. Prominent investors backing the company include Felix, Ajcon IT and Suman Shrivastava.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
IT support services are provided to businesses in Singapore. | – | crossroad.com.sg | Singapore, Singapore | |
Source-to-pay software is provided for vendor and contract management. | 2012 | felix.net | Brisbane, Australia | |
Offers software, website development, and media presentation services. | 2000 | ajconit.com | Mumbai, India | |
SS Suman Shrivastava | - | – | unknown_b60a1cbe7c3b49059 | - |
DR Divya Raj | - | – | unknown_c5d8e20439674be79 | - |
MC Mark Cullinane | - | – | unknown_dcc280c27aac445eb | - |
NN Nilesh Navlakha | - | – | unknown_9af006d0d8a247ab9 | - |
AN Anuradha Navlakha | - | – | unknown_86b4b44ce653431b8 | - |
SM Sandeep Malik | Angel investor and entrepreneur, focused on tech startups in India. | – | unknown_f7bd0789504e44fb9 | - |
RB Rakesh Bhatia | Angel investor, founder of The Capital Advisors, focused on early-stage startups | – | unknown_0192bd3fb2b14fbfa | - |
Investor details for McXtra
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Board of directors of McXtra
The boards of the 2 registered companies of McXtra currently have 4 directors; the longest-serving is Narayanan Arakonimadom Suryanarayanan, appointed in 2014. 11 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Narayanan Arakonimadom Suryanarayanan DIN 02078600 | Director | 10 Jan 2014 | 12 yrs 9 mo | Reach Ajcon Technologies Private Limited, Reach Ajcon Financial Advisors Private Limited |
| Ashok Ajmera Kumar DIN 00812092 | Director | 31 Mar 2014 | 12 yrs 6 mo | Reach Ajcon Technologies Private Limited, Reach Ajcon Financial Advisors Private Limited |
| Ankit Ajmera Ashok DIN 00200434 | Director | 31 Mar 2014 | 12 yrs 6 mo | Reach Ajcon Financial Advisors Private Limited |
| Anuj Ajmera Ashok DIN 01838428 | Director | 01 Nov 2019 | 6 yrs 11 mo | Reach Ajcon Technologies Private Limited |
People of McXtra
1 people are tracked at McXtra (1 in leadership); the tracked headcount is 57.
| Name | Role | Group |
|---|---|---|
A S Narayanan | Founder & CEO | Leadership |
Complete people profiles for McXtra
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Financials of McXtra
Figures of Reach Ajcon Technologies Private Limited, the primary company behind McXtra, for FY 2024. Revenue was ₹1.7 Lakh (-77% year on year). Net loss was -₹44.7 Lakh (-2670% margin). EBITDA was -₹44.4 Lakh (-2655% margin). Revenue has grown at a compounded annual rate of -61% over three years and -48% over five years.
- ₹1.7 LakhRevenue · FY 2024 · -77% YoY
- -₹44.7 LakhNet loss · -2670% margin
- -₹44.4 LakhEBITDA · -2655% margin
- ₹19.7 LakhPaid-up capital
- 4Employees (provident fund records)
- -61%Revenue CAGR, 3 years
- -48%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Reach Ajcon Technologies Private Limited are on its company page.
Detailed financial statements for McXtra
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of McXtra
4 dated milestones of McXtra across 4 years, from founding to its latest funding, stage changes and deals.
- Founded McXtra is founded.
- Funding First funding round of $108K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Angel Round, of $15K.
Competitors of McXtra
McXtra has 7 listed competitors in our database, 1 of them funded. They include CAMS Insurance Repository Services, Mudrasure, InsurePays, CDSL Insurance Repository Limited and iChain, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| camsrepository.com | 2011 | Chennai, India | – | 425 | eInsurance Accounts are opened for holding policies in electronic form. | |
| mudrasure.com | 1993 | Delhi, India | – | – | Insurance premium financing is facilitated via an app-based platform. | |
| insurepays.com | 2019 | Hyderabad, India | $1M | 6 | App-based insurance premium payments platform for policyholders | |
| cirl.co.in | 2011 | Mumbai, India | – | – | Operates a web-based repository for efficient insurance management. | |
| ichain.co.jp | 2016 | Tokyo, Japan | – | – | Policy management app | |
| sixthsenseinsurance.com | 2023 | Mumbai, India | – | – | Offers a versatile platform for purchasing insurance policies. | |
| shcilir.com | 2011 | Mumbai, India | – | – | Serves as a repository for managing insurance policies and data. |
Detailed competitors of McXtra
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Top companies in Insurance Providers
10 companies that operate in the same segment as McXtra (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 Mcxtra
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Frequently Asked Questions about McXtra
McXtra was founded in 2015.
McXtra is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
McXtra is a funded company, having raised a total of $1.57M across 5 funding rounds to date. The company's 1st funding round was a Seed of $108.26K, raised on Apr 2015.
McXtra has 57 employees.
Annual revenue of McXtra is $7.46M as on Mar 31, 2024.
McXtra was founded in 2015 in Mumbai, India, within the insurtech sector. An app is provided by employers to employees and families for storing, tracking, and viewing policies in a secure vault. A dashboard is included to explain insurance terms and conditions. Geo-tracking enables location-based emergency services via the McXtra Red Button. 24x7 support is available, along with analysis of existing policies to suggest renewal options.
McXtra's top competitors include CAMS Insurance Repository Services, Mudrasure and InsurePays.
The valuation of McXtra is $3.12M as of Jan 2019.
McXtra is associated with 2 legal entities: Reach Ajcon Technologies Private Limited, Reach Ajcon Financial Advisors Private Limited.
The legal entities of McXtra currently have 4 directors, including Narayanan Arakonimadom Suryanarayanan, Anuj Ajmera Ashok, Ashok Ajmera Kumar and others.