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. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
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 Total Funding
- Total Rounds 5
- Last Round Series A — $4.5M
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First Round
First Round
(15 Apr 2019)
- Investors Count 31
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2024 | Amount | Series A - Riskcovry | Valuation | Morphosis Venture Capital , HDFC | |
| Jun, 2023 | Amount | Series A - Riskcovry | Valuation | Morphosis Venture Capital , IIFL Mutual Fund | |
| Mar, 2021 | Amount | Series A - Riskcovry | Valuation | Omidyar Network India |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Investments are directed toward early-stage B2B and enterprise technology firms.
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Founded Year | Domain | Location | |
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Investments are made in digital society, education, and employability sectors.
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Founded Year | Domain | Location | |
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Private equity investment firm focused on buyouts
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Riskcovry
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Riskcovry
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Riskcovry Comparisons
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. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cloud-based solutions for insurance policy management and underwriting are offered.
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| domain | founded_year | HQ Location |
AI-based software suite is provided for banking and insurance sectors.
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| domain | founded_year | HQ Location |
Insurance policy and claim management solutions for the insurance industry
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| domain | founded_year | HQ Location |
Cloud-based insurance software suites are developed for insurers and partners.
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| domain | founded_year | HQ Location |
Cloud-based software solutions for credit insurers, surety bonds & trade finance
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Riskcovry
Frequently Asked Questions about Riskcovry
When was Riskcovry founded?
Riskcovry was founded in 2018 and raised its 1st funding round 1 year after it was founded.
Where is Riskcovry located?
Riskcovry is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Is Riskcovry a funded company?
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 Series A of $5.3M, raised on Apr 15, 2019.
How many employees does Riskcovry have?
As of Mar 31, 2024, the latest employee count at Riskcovry is 97.
What is the annual revenue of Riskcovry?
Annual revenue of Riskcovry is $863.89K as on Mar 31, 2023.
What does Riskcovry do?
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.
Who are the top competitors of Riskcovry?
What products or services does Riskcovry offer?
Riskcovry offers Unified API, Embed Pro, Retail Insurance Platform, and Lend Pro.
Who are Riskcovry's investors?
Riskcovry has 31 investors. Key investors include Angel List, IIFL Finance, HDFC, Wellfound, and IIFL Mutual Fund.
What is Riskcovry's valuation?
The valuation of Riskcovry is $31.23M as of Jan 2024.