About Toffee Insurance
Toffee Insurance is a company based in Gurugram (India) founded in 2017 by Nishant Jain and Rohan Kumar.. Toffee Insurance has raised $12.19 million across 6 funding rounds from investors including Accion, Omidyar Network and Citco. The company has 23 employees as of August 10, 2024. Toffee Insurance offers products and services including Micro Insurance Products. Toffee Insurance operates in a competitive market with competitors including iNube Software Solutions, IDBI Federal, Trovity, RAP INFOSYSTEMS and Finizon, among others.
- Headquarter Gurugram, India
- Employees 23 as on 10 Aug, 2024
- Founders Nishant Jain, Rohan Kumar
- Stage Minicorn
-
Sectors
Financial Services
-
Email
***********
-
Phone
*********
-
Website
*********
-
Social
*********
- Legal Name Toffee Private Limited
- Jurisdiction New Delhi, Delhi, India
-
Annual Revenue
$517.08 K (USD)47.87as on Mar 31, 2023
-
Net Profit
$24.22 K (USD)392.23as on Mar 31, 2023
-
EBITDA
$40.36 K (USD)293.02as on Mar 31, 2023
-
Total Equity Funding
$12.19 M (USD)
in 6 rounds
-
Latest Funding Round
$2.94 M (USD), Series D
Nov 18, 2022
-
Investors
Accion
& 10 more
-
Employee Count
23
as on Aug 10, 2024
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
Products & Services of Toffee Insurance
Toffee Insurance offers a comprehensive portfolio of products and services, including Micro Insurance Products. 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.
Affordable coverage for everyday items and personal needs
Funding Insights of Toffee Insurance
Toffee Insurance has successfully raised a total of $12.19M across 6 strategic funding rounds. The most recent funding activity was a Series D round of $2.94 million completed in November 2022. 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 6
- Last Round Series D — $2.9M
-
First Round
First Round
(27 Nov 2017)
- Investors Count 11
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Nov, 2022 | Amount | Series D - Toffee Insurance | Valuation | Ivm Intersurer BV |
|
| Apr, 2022 | Amount | Series C - Toffee Insurance | Valuation | Ivm Intersurer BV , Omidyar Network | |
| Nov, 2021 | Amount | Series B - Toffee Insurance | Valuation | Ivm Intersurer BV |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Toffee Insurance
Toffee Insurance has secured backing from 11 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Accion, Omidyar Network and Citco. 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 |
|---|---|---|---|---|
|
Investing in technology, digital culture, governance, and business initiatives.
|
Founded Year | Domain | Location | |
|
Flourish Ventures is focused on investing in mission-driven fintech entrepreneurs.
|
Founded Year | Domain | Location | |
|
Venture debt is provided to growth-stage companies for business scaling.
|
Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
|
Founded Year | Domain | Location | |
|
Startup ecosystems are ignited through strategic investments by Signite Partners.
|
Founded Year | Domain | Location | |
|
Venture capital is directed toward companies in multiple sectors.
|
Founded Year | Domain | Location | |
|
Venture capital is invested in cybersecurity, fintech, and AI startups.
|
Founded Year | Domain | Location |
Investments & Acquisitions by Toffee Insurance
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Bionic investment advisor platform
|
2016 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 | ||||
|
Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
|
2014 | ||||
|
Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
Financial Statements - Toffee Insurance
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Toffee Insurance Comparisons
Competitors of Toffee Insurance
Toffee Insurance 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 iNube Software Solutions, IDBI Federal, Trovity, RAP INFOSYSTEMS and Finizon, 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 |
Software solutions are provided for multiple industry verticals.
|
|
| domain | founded_year | HQ Location |
Life insurance policies and retirement solutions are offered nationwide.
|
|
| domain | founded_year | HQ Location |
Online platform for insurance broking, claims management, and personalized risk analysis.
|
|
| domain | founded_year | HQ Location |
Offers life, health, and motor insurance to individuals with expert advice.
|
|
| domain | founded_year | HQ Location |
Financial services are provided by Finizon in Mumbai, India.
|
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
|
|
| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
|
|
| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
|
|
| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
|
Frequently Asked Questions about Toffee Insurance
When was Toffee Insurance founded?
Toffee Insurance was founded in 2017.
Where is Toffee Insurance located?
Toffee Insurance is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Who is the current CEO of Toffee Insurance?
Rohan Kumar is the current CEO of Toffee Insurance. They have also founded this company.
Is Toffee Insurance a funded company?
Toffee Insurance is a funded company, having raised a total of $12.19M across 6 funding rounds to date. The company's 1st funding round was a Series B of $955.03K, raised on Nov 27, 2017.
How many employees does Toffee Insurance have?
As of Aug 10, 2024, the latest employee count at Toffee Insurance is 23.
What is the annual revenue of Toffee Insurance?
Annual revenue of Toffee Insurance is $517.08K as on Mar 31, 2023.
What does Toffee Insurance do?
Toffee Insurance was founded in 2017 and is based in Gurugram, India. Microinsurance solutions are provided to individuals in the insurance sector, with a focus on affordable coverage for items such as mobile devices, eyewear, and education expenses. Operations center on delivering tailored products to meet customer needs in the Indian market, supported by a team including co-founders and key executives in product and marketing roles.
Who are the top competitors of Toffee Insurance?
Toffee Insurance's top competitors include iNube Software Solutions, IDBI Federal and Finizon.
What products or services does Toffee Insurance offer?
Toffee Insurance offers Micro Insurance Products.
Who are Toffee Insurance's investors?
Toffee Insurance has 11 investors. Key investors include Accion, Omidyar Network, Citco, Ivm Intersurer BV, and Flourish Ventures.
What is Toffee Insurance's valuation?
The valuation of Toffee Insurance is $6.92M as of Nov 2022.