About Riskcovry
Riskcovry is a company based in Mumbai (India) founded in 2018 by Asif Ch, Suvendu Prusty, Chiranth Patil, Sorabh Bhandari, and Vidya Sridharan. Riskcovry has raised $14.41 million across 5 funding rounds from investors including Angel List, IIFL Finance and HDFC. The company has 97 employees as of March 31, 2024. Riskcovry offers products and services including Unified API, Embed Pro, Retail Insurance Platform, and Lend Pro. Riskcovry operates in a competitive market with competitors including Socotra, FintechOS, ReSource Pro, eBaoTech and Tinubu, among others.
- Headquarter Mumbai, India
- Employees 97 as on 31 Mar, 2024
- Founders Asif Ch, Suvendu Prusty, Chiranth Patil, Sorabh Bhandari, Vidya Sridharan
- Stage Minicorn
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Sectors
Financial Services
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Email
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Phone
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Website
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Social
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- Legal Name Umbo Idtech Private Limited
- Date of Incorporation 24 Feb, 2018
- Jurisdiction Mumbai, Maharashtra, India
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Annual Revenue
$863.89 K (USD)76.03as on Mar 31, 2023
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Net Profit
-$2.71 M (USD)-34.51as on Mar 31, 2023
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EBITDA
-$2.6 M (USD)-24.39as on Mar 31, 2023
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Total Equity Funding
$14.41 M (USD)
in 5 rounds
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Latest Funding Round
$4.5 M (USD), Series A
Jan 03, 2024
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Investors
Angel List
& 30 more
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Employee Count
97
as on Mar 31, 2024
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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.
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.
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Investments are directed toward early-stage B2B and enterprise technology firms.
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Investments are made in digital society, education, and employability sectors.
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Private equity investment firm focused on buyouts
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Investor details for Riskcovry
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Investments & Acquisitions by Riskcovry
Investment portfolio details for Riskcovry
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- Transaction dates
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Financial Statements - Riskcovry
Detailed financials for Riskcovry
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- Profit trends
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Riskcovry Comparisons
Peer comparison for Riskcovry
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- Named peers
- Headcount comparison
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Competitors of Riskcovry
Riskcovry operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Socotra, FintechOS, ReSource Pro, eBaoTech and Tinubu, among others.
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Cloud-based solutions for insurance policy management and underwriting are offered.
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AI-based software suite is provided for banking and insurance sectors.
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Insurance policy and claim management solutions for the insurance industry
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Cloud-based insurance software suites are developed for insurers and partners.
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Cloud-based software solutions for credit insurers, surety bonds & trade finance
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Detailed competitors of Riskcovry
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Latest news on 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.
As of Mar 31, 2024, the latest employee count at Riskcovry is 97.
Annual revenue of Riskcovry is $863.89K as on Mar 31, 2023.
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.