Square Insurance Raises ₹25 Crore in Latest Funding Round Led by Major Investors

Jaipur: City based Square Insurance, has secured ₹25 crore in a recent funding round led by Negen Capital, Bizdateup, and prominent figures Yogesh Chaudhary of Jaipur Rugs and Prashant Kothari of Jaipur Stones.

This infusion of capital is set to be a game-changer for Square Insurance, enabling advancements in its technology infrastructure and the enhancement of its AI-driven insure-tech platform. The company aims to streamline operations and significantly improve customer experience.

Rakesh Kumar, founder and Managing Director of Square Insurance, remarked, “This investment validates our commitment to transforming insurance through innovative technology and broader accessibility. It will allow us to upgrade our offerings and expand our presence, especially in rural regions where insurance is vital.” Kumar highlighted that a substantial portion of the funds will be dedicated to advancing technology for cattle insurance, catering to the pressing needs of farmers in these areas.

In addition, Square Insurance plans to channel funds into developing tailored micro-insurance products by collaborating with leading insurers and establishing strategic partnerships with fintech and e-commerce firms. Neil Bahal of Negen Capital commented, “Square Insurance impressed us with its unique position as a profitable, bootstrapped InsureTech company. The founders’ extensive experience and dedication to sustainable growth were key factors in our decision to invest.”