About Square Insurance Brokers
Square Insurance Brokers is a company based in Jaipur (India) founded in 2017 by Akash Parwal and Rakesh Kumar.. Square Insurance Brokers has raised $4 million across 2 funding rounds from investors including Recur Club, BizdateUp and Negen Angel Fund. The company has 156 employees as of April 08, 2024. Square Insurance Brokers offers products and services including Insurance Comparison Platform, Car Insurance Service, Bike Insurance Service, Health Insurance Service, and Life Insurance Service. Square Insurance Brokers operates in a competitive market with competitors including ACKO, Digit Insurance, 5 nce, PBPartners and TeziPay, among others.
- Headquarter Jaipur, India
- Employees 156 as on 08 Apr, 2024
- Founders Akash Parwal, Rakesh Kumar
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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
*********
- Legal Name Square Insurance Brokers Private Limited
- Date of Incorporation 07 Nov, 2016
- Jurisdiction Jaipur, Rajasthan, India
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Annual Revenue
$1.41 M (USD)46.19as on Mar 31, 2023
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Net Profit
$95.23 K (USD)963.84as on Mar 31, 2023
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EBITDA
$240.57 K (USD)96.41as on Mar 31, 2023
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Total Equity Funding
$4 M (USD)
in 2 rounds
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Latest Funding Round
$3 M (USD), Seed
Jul 16, 2024
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Investors
Recur Club
& 6 more
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Employee Count
156
as on Apr 08, 2024
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Products & Services of Square Insurance Brokers
Square Insurance Brokers offers a comprehensive portfolio of products and services, including Insurance Comparison Platform, Car Insurance Service, Bike Insurance Service, Health Insurance Service, and Life Insurance Service. 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.
Online service for comparing and purchasing insurance policies
Platform to buy and manage car insurance policies online
Service for purchasing and renewing two-wheeler insurance
Online tool for comparing and acquiring health coverage
Platform to select and buy life insurance plans
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Funding Insights of Square Insurance Brokers
Square Insurance Brokers has successfully raised a total of $4M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $3 million completed in July 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 2
- Last Round Seed — $3.0M
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First Round
First Round
(21 Aug 2023)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2024 | Amount | Seed - Square Insurance Brokers | Valuation | Negen Angel Fund , BizdateUp | |
| Aug, 2023 | Amount | Seed - Square Insurance Brokers | Valuation | Recur Club |
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| 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 Square Insurance Brokers
Square Insurance Brokers has secured backing from 7 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Recur Club, BizdateUp and Negen Angel Fund. 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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Investment in tech-enabled startups and consumer-facing businesses in India.
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Founded Year | Domain | Location | |
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Angel Investment platform which connects investors to curated startup investment opportunities
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Founded Year | Domain | Location | |
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Debt financing solutions are provided to startups and SMEs.
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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 Square Insurance Brokers
| 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 - Square Insurance Brokers
| 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 |
Square Insurance Brokers Comparisons
Competitors of Square Insurance Brokers
Square Insurance Brokers 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 ACKO, Digit Insurance, 5 nce, PBPartners and TeziPay, 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 |
Insurance products for vehicles, health, travel, and life are offered.
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| domain | founded_year | HQ Location |
General and life insurance products are provided across multiple categories.
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| domain | founded_year | HQ Location |
AI-powered investment and financial advisory services are provided.
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| domain | founded_year | HQ Location |
Multiple insurance products are delivered via a web-based platform.
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| domain | founded_year | HQ Location |
Provider of financial solutions for businesses and individuals
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| 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 Square Insurance Brokers
Frequently Asked Questions about Square Insurance Brokers
When was Square Insurance Brokers founded?
Square Insurance Brokers was founded in 2017 and raised its 1st funding round 6 years after it was founded.
Where is Square Insurance Brokers located?
Square Insurance Brokers is headquartered in Jaipur, India. It is registered at Jaipur, Rajasthan, India.
Who is the current CEO of Square Insurance Brokers?
Akash Parwal is the current CEO of Square Insurance Brokers. They have also founded this company.
Is Square Insurance Brokers a funded company?
Square Insurance Brokers is a funded company, having raised a total of $4M across 2 funding rounds to date. The company's 1st funding round was a Seed of $1M, raised on Aug 21, 2023.
How many employees does Square Insurance Brokers have?
As of Apr 08, 2024, the latest employee count at Square Insurance Brokers is 156.
What is the annual revenue of Square Insurance Brokers?
Annual revenue of Square Insurance Brokers is $1.41M as on Mar 31, 2023.
What does Square Insurance Brokers do?
Square Insurance Brokers was founded in 2017 in Jaipur, India, operating in the insurance broking sector. A single interface is provided for users to compare, purchase, and manage policies covering life, health, motor, travel, and business insurance. Multiple providers are integrated to support claims processing, policy renewals, regulatory compliance, and real-time tracking, streamlining insurance management workflows.
Who are the top competitors of Square Insurance Brokers?
Square Insurance Brokers's top competitors include Digit Insurance, ACKO and PBPartners.
What products or services does Square Insurance Brokers offer?
Square Insurance Brokers offers Insurance Comparison Platform, Car Insurance Service, Bike Insurance Service, Health Insurance Service, and Life Insurance Service.
Who are Square Insurance Brokers's investors?
Square Insurance Brokers has 7 investors. Key investors include Recur Club, BizdateUp, Negen Angel Fund, Exanavo Consultant, and D.M. Metalloys.
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