MetaMorphoSys has secured $3 million in seed funding that was led by Capital 2B along with angel investors, Dhruv Dhanraj and Pavtar Singh. Behl
MetaMorphoSys will make use of the fresh capital to expand and develop its platform, increase its product offerings, and expand its sales team across the globe.
In addition to the current fundraising, MetaMorphoSys has raised a total of $4 million up to now.
Startup in the field of insurance MetaMorphoSys has raised $3 million in its Pre-Series A financing round, led by Capital 2B along with angel investors Dhruv Dhanraj as well as Pavtar Singh. Behl.
MetaMorphoSys will utilize the new capital to build and expand its platform, broaden its product offerings, and expand its sales team across all geographies. The company will also invest in the development of old integrations.
With the latest fundraising round, MetaMorphoSys has raised a total of $4 million so far.
“Insurance businesses from all over the world use MetaMorphoSys to introduce their products, increase their sales force and settle claims, spot fraud and streamline the value chain, from acquisition of customers to customer engagement which includes integrated insurance” stated Amit Naik Co-founder and CEO of MetaMorphoSys Technologies.
In 2016, the company was founded in 2016 by Naik along with Kewal Vargante The Pune-based company is a business-tobusiness (B2B) SaaS insurance platform. It aids insurance companies introduce a variety of insurance products to motor vehicles, travel life, property, and business.
In the end, MetaMorphoSys’ platform integrates with the legacy systems used by insurance companies, and its APIs simplify the experience of their customers from initial onboarding, to service and processing of claims.
“MetaMorphoSys was designed to handle insurance products that span multiple lines across different geographies, including retail and group business, with connections to both legacy as well as SaaS platforms” declared Vargante.
MetaMorphoSys’ services include a configurator for products as well as customers’ engagement as well as acquisition sales analytics, and a recommendation engine, to name a few.
MetaMorphoSys claims to offer services to insurance firms based on Hong Kong, Singapore, Indonesia, Vietnam and India.
The year 2020 was the time this startup obtained seed capital by Rohan Malhotra, Arjun Malhotra, both from Good Capital VC and Rahul Khanna of Trifecta Capital.
In India’s insurtech sector there is competition from such companies as Vital, SecureNow and Digit Insurance, which has recently filed for DRHP.
Based on Economic Pitch , according to an Economic Pitch research report that the nation’s fintech industry is predicted to reach $1.3 trillion in 2025, and expanding at a CAGR of 31 percent. Of this, insurtech will be an industry that will make up 26 percent ($339 Bn) by 2025.