About Riskcovry
Riskcovry is a Financial Services company based in Mumbai (India) founded in 2018 by Asif Ch, Suvendu Prusty, Chiranth Patil, Sorabh Bhandari, and Vidya Sridharan. A platform for digital insurance distribution and management is provided. Riskcovry has raised $14.41 million across 5 funding rounds from investors including Angel List, IIFL Finance and HDFC. The company has 97 employees. Riskcovry was last valued at $31.23 million in January 2024. Its website riskcovry.com draws about 19 thousand monthly visits. Its Indian entity Umbo Idtech Private Limited reported revenue of ₹45.99 Cr. Riskcovry offers products and services including Unified API, Embed Pro, Retail Insurance Platform, and Lend Pro. Its focus areas include FinTech, Insurance IT, Insurance Policy Solutions and Insurance Software Suite.
Company details
Riskcovry was founded in 2018 and is headquartered in Mumbai, India. The company operates in the insurtech sector, offering a digital platform that facilitates insurance distribution and management. Tools for handling the full insurance lifecycle, including purchase, management, and claims, are included. A unified API enables integration with multiple insurers and products. Support is provided for assisted, embedded, and direct distribution channels.
- Headquarters Mumbai, India
- Employees 97
- Founders Asif Ch, Suvendu Prusty, Chiranth Patil, Sorabh Bhandari, Vidya Sridharan
- Stage Minicorn
- SectorsFinancial Services
- Website category Finance · Insurance
- Email••••••••
- Phone•••• ••••
- Website riskcovry.com
- Social LinkedIn X Facebook Instagram
- Legal Name Umbo Idtech Private Limited
- Date of Incorporation 24 Feb, 2018
- Jurisdiction Mumbai, Maharashtra, India
- Annual Revenue₹45.99 Cr
FY 2025 · +116% YoY
- Net Loss-₹19.36 Cr
FY 2025 · -42% margin
- EBITDA-₹18.25 Cr
FY 2025 · -40% margin
- Total Equity Funding$14.41M (USD)
in 5 rounds
- Latest Funding Round$4.5M (USD), Series A
Jan 2024
- InvestorsAngel List
& 30 more
- Employee Count97
Associated legal entities of Riskcovry
Riskcovry operates through Umbo Idtech Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Umbo Idtech Private Limited CIN U74999MH2018PTC305567 | Active | 24 Feb 2018 | Mumbai, Maharashtra | ₹46.0 Cr | 97 | 3 | View details |
Products & Services of Riskcovry
Riskcovry offers a comprehensive portfolio of products and services, including Unified API, Embed Pro, Retail Insurance Platform, and Lend Pro.
Enables digitization of insurance lifecycle across insurers
Facilitates no-code creation of insurance product packages
Supports seamless purchase journeys for retail insurance products
Provides customizable credit-linked insurance for borrowers
Funding Insights of Riskcovry
Riskcovry has successfully raised a total of $14.41M across 5 strategic funding rounds. The most recent funding activity was a Series A round of $4.5 million completed in January 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 $14.41M
- Total Rounds 5
- Last Round Series A — $4.5M
- First Round $237,377
(Apr 2019)
- Investors Count 31
All 5 funding rounds of Riskcovry 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 2024 | $4.5M | Series A | $31.23M | Morphosis Venture Capital, HDFC | |
| Jun 2023 | $3.13M | Series A | $30.64M | Morphosis Venture Capital, IIFL Mutual Fund | |
| Mar 2021 | $5.3M | Series A | $••••• | Omidyar Network India | |
| Apr 2020 | $1.24M | Seed | $••••• | Bharat Innovation Fund | |
| Apr 2019 | $237,377 | Seed | $••••• | Bharat Inclusion Initiative, Abhishant Pant |
| Date | Valuation | Stage |
|---|---|---|
| Jan 2024 | $31.23M | •••••••• |
| Jun 2023 | $30.64M | •••••••• |
| Mar 2021 | $••••• | •••••••• |
| Apr 2020 | $••••• | •••••••• |
| Apr 2019 | $••••• | •••••••• |
Full valuation and stage history of Riskcovry
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
- All valuation points
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Verified entity values are shown only after access is granted.
Last known valuation $31.23M (Jan 2024). 31 investors in total: 21 institutional and 10 angel.
Investors in Riskcovry
Riskcovry has secured backing from 31 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Angel List, IIFL Finance and HDFC.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Investments are directed toward early-stage B2B and enterprise technology firms. | morphosisvc.com | Dubai, United Arab Emirates | ||
Investments are made in digital society, education, and employability sectors. | omidyarnetwork.in | Mumbai, India | ||
Private equity investment firm focused on buyouts | smilegateinvestment.com | Seoul, South Korea | ||
Venture capital funding is provided to Indian startups. | capital-a.in | Bengaluru, India | ||
Financial services including portfolio management, alternative investments, and offshore products for high net-worth individuals and institutions. | 1990 | varaniumgroup.com | Mumbai, India | |
Investment in technology solutions for finance sectors such as lending and insurance. | 2017 | dmisparklefund.in | New Delhi, India | |
Early-stage investments in fintech are targeted by IIFL Fintech Fund. | iiflfintechfund.tcc.mode | |||
Funding for IP-driven deep-tech and digitization-led inclusive solutions. | 2017 | bharat.fund | Ahmedabad, India | |
Early-stage companies are invested in by Better Capital. | bettercapital.vc | Santa Clara, United States | ||
Asset management and funding services for startups in the finance sector. | varanium.vc | Mumbai, India |
Investor details for Riskcovry
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Verified entity values are shown only after access is granted.
Board of directors of Umbo Idtech Private Limited (Riskcovry)
Umbo Idtech Private Limited is the primary company behind Riskcovry. The board of Umbo Idtech Private Limited currently have 3 directors; the longest-serving is Chiranth Patil, appointed in 2018. 3 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Chiranth Patil DIN 03032859 | Director | 24 Feb 2018 | 8 yrs 8 mo | Umbo Idtech Private Limited |
| Suvendukumar Shyamsundar Prusty DIN 07677781 | Director | 24 Feb 2018 | 8 yrs 8 mo | Umbo Idtech Private Limited |
| Sorabh Balvirchand Bhandari DIN 07677768 | Director | 24 Feb 2018 | 8 yrs 8 mo | Umbo Idtech Private Limited |
People of Riskcovry
5 people are tracked at Riskcovry (5 in leadership); the tracked headcount is 97.
| Name | Role | Group |
|---|---|---|
Asif Ch | Co-Founder & CTO | Leadership |
Suvendu Prusty | Co-Founder | Leadership |
| Co-Founder | Leadership | |
| Co-Founder | Leadership | |
Vidya Sridharan | Co-Founder | Leadership |
Complete people profiles for Riskcovry
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
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Verified entity values are shown only after access is granted.
Financials of Riskcovry
Figures of Umbo Idtech Private Limited, the primary company behind Riskcovry, for FY 2025. Revenue was ₹45.99 Cr (+116% year on year). Net loss was -₹19.36 Cr (-42% margin). EBITDA was -₹18.25 Cr (-40% margin). Revenue has grown at a compounded annual rate of +124% over three years and +146% over five years.
- ₹45.99 CrRevenue · FY 2025 · +116% YoY
- -₹19.36 CrNet loss · -42% margin
- -₹18.25 CrEBITDA · -40% margin
- ₹9.56 CrPaid-up capital
- 97Employees (provident fund records)
- +124%Revenue CAGR, 3 years
- +146%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Umbo Idtech Private Limited are on its company page.
Detailed financial statements for Riskcovry
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 Riskcovry
4 dated milestones of Riskcovry across 6 years, from founding to its latest funding, stage changes and deals.
- Founded Riskcovry is founded.
- Funding First funding round of $237K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Series A, of $4.5M.
Web traffic of Riskcovry
The website of Riskcovry (riskcovry.com) receives about 19.5K visits a month and ranks #1,912,013 among all websites worldwide, #6,246 in Insurance.
- Monthly visits19.5K
▲ 98.3% vs previous month
- Unique visitors4.3K
per month
- Global rank#1,912,013
among all websites
- Category rank#6,246
Finance · Insurance
- Bounce rate39%
- Pages per visit2.8
- Average visit57 sec
- DevicesDesktop 19% · Mobile 81%
Websites whose visitors overlap most with Riskcovry. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| qover.com | 100% | 56.9K | #472,759 | View details | |
| pratra.com | 30% | #6,486,842 | View details |
Top companies in Insurance Technology & Support Services
2 companies that operate in the same segment as Riskcovry (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 Riskcovry
Complete news archive for Riskcovry
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Frequently Asked Questions about Riskcovry
Riskcovry was founded in 2018 and raised its 1st funding round 1 year after it was founded.
Riskcovry is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Riskcovry is a funded company, having raised a total of $14.41M across 5 funding rounds to date. The company's 1st funding round was a Seed of $237.38K, raised on Apr 2019.
Riskcovry has 97 employees.
The primary company behind Riskcovry, Umbo Idtech Private Limited, reported revenue of ₹45.99 Cr for FY 2025, up 116% year on year.
Riskcovry was founded in 2018 and is headquartered in Mumbai, India. The company operates in the insurtech sector, offering a digital platform that facilitates insurance distribution and management. Tools for handling the full insurance lifecycle, including purchase, management, and claims, are included. A unified API enables integration with multiple insurers and products. Support is provided for assisted, embedded, and direct distribution channels.
Riskcovry offers Unified API, Embed Pro, Retail Insurance Platform, and Lend Pro.
Riskcovry has 31 investors. Key investors include Angel List, IIFL Finance, HDFC, Wellfound, and IIFL Mutual Fund.
The valuation of Riskcovry is $31.23M as of Jan 2024.
Riskcovry operates through Umbo Idtech Private Limited.
The legal entities of Riskcovry currently have 3 directors, including Chiranth Patil, Suvendukumar Shyamsundar Prusty, Sorabh Balvirchand Bhandari.