# Bimaplan: Insurance, Bengaluru, India

> Bimaplan: Bimaplan is an Indian insurtech startup founded in 2020 and based in Bangalore, Karnataka. Based in Bengaluru, India. Founded 2020.

Source: https://millionrounds.com/startup/bimaplan (Millionrounds; every figure on the page links to its filing or article)

India · [Insurance startup](https://millionrounds.com/companies)

# Bimaplan

Bimaplan is an Indian insurtech startup founded in 2020 and based in Bangalore, Karnataka.

Funding reported Last round: Seed

Insurance Bengaluru, India

Company summary

- **Founded:** 2020 6 years old
- **Team:** 38 11 to 50 people
- **Funding reported:** 8.5M as listed, currency not stated
- **Last round:** Seed Nov 2023

How sure we are

- ✓ **Listed** We know it exists and what it does
- 2 **Funding reported** A company dataset reports a raise
- 3 **Observed** A filing or a dated announcement confirms a round

No round for Bimaplan has been confirmed by a filing or an announcement yet, so nothing here counts toward an investor's record. [How we decide](https://millionrounds.com/methodology)

## About Bimaplan

Bimaplan is an Indian insurtech startup founded in 2020 and based in Bangalore, Karnataka.

The company focuses on providing affordable embedded insurance solutions to underserved populations, aiming to enhance financial security for 150 million vulnerable households in India. Bimaplan leverages the growing mobile penetration and digital infrastructure to reach low- and middle-income groups, including rural communities and gig economy workers. It has raised over $6.6 million in funding from notable investors like Y Combinator and Orios Venture Partners. The company offers a B2B2C embedded insurance platform that allows businesses to integrate and distribute customized microinsurance products easily. Bimaplan's product range includes life and health insurance, accident and travel insurance, group medical cover, and wellness services, with annual premiums ranging from $5 to $50. By partnering with various organizations, including e-commerce platforms and financial institutions, Bimaplan aims to co-create and distribute relevant insurance policies, driving financial inclusion in the Indian market.

## What company datasets say Bimaplan raised

Funding, as reported

Reported in all **8.5M** in the source's currency

Rounds **3**

Last round **Seed**

Last round size **3.5M**

Last round date **Nov 2023**

Y Combinator **W21**

## On 5 portfolio pages

Investors who name them

- [Magic Fund](https://millionrounds.com/fund/magic-fund)
- [Emphasis Ventures (EMVC)](https://millionrounds.com/fund/emphasis-ventures-emvc)
- [Incisive Ventures](https://millionrounds.com/fund/incisive-ventures)
- [GSF India](https://millionrounds.com/fund/gsf-2)
- [Climber Capital](https://millionrounds.com/fund/climber-capital)

Each firm lists Bimaplan on its own website. That is the firm's claim, a weaker thing than a round we watched, but a named source.

## The company, in detail

What they build

Known for

information technology & services financial services fintech b2b2c saas computer software b2b finance technology

Built with from their website

Amazon CloudFront Cloudflare DNS Google Workspace CloudFlare Viewport Meta Next.js HTTP/3 webpack Amazon AWS Google Meet

+8 more

CloudFlare CDN React Google Font API Nginx AWS Cloud Mobile Friendly Open Graph Amazon Route 53

- **Sector:** Insurance
- **Industry code:** NAICS 52421, 51321, SIC 6311, 6321, 7372
- **Region:** Karnataka
- **Revenue:** 3.5M a year, as listed

## Insurance in India

Startups like it

- [**Toffee Insurance** Gurugram · founded 2017 *Raised*](https://millionrounds.com/company/toffee-insurance)
- [**Square Insurance Brokers Pvt. Ltd.** Jaipur · founded 2017](https://millionrounds.com/startup/square-insurance-brokers-pvt-ltd)
- [**Pazcare** Bengaluru · founded 2020](https://millionrounds.com/startup/pazcare)
- [**Alliance Insurance Brokers Pvt Ltd** Mumbai · founded 2003](https://millionrounds.com/startup/alliance-insurance-brokers-pvt-ltd)
- [**SBI General Insurance** Mumbai · founded 2009](https://millionrounds.com/startup/sbi-general-insurance)
- [**CoverSure** Mumbai · founded 2023](https://millionrounds.com/startup/coversure)
- [**InsuranceDekho** Gurugram · founded 2016](https://millionrounds.com/startup/insurancedekho)
- [**Starhealth Insurance** Thiruvananthapuram](https://millionrounds.com/startup/starhealth-insurance)

## Is this your company?

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