Coverfox, an Indian insurtech company, completed a $22m Series C funding round.
The round was led by International Finance Corporation, with participation from Transamerica and other existing investors Catamaran Ventures, Pratithi Investment Trust, and NuVentures.
The company intends to use the funds to enhance its product and technology capabilities, broaden its product portfolio and accelerate its geographic expansion.
Founded in 2013 by Devendra Rane and Varun Dua and led by CEO Premanshu Singh, Coverfox provides an algorithm-based online platform to buy and manage health, car, home and travel insurance products.
During last year, the company launched an Android app called Coverdrive to allow agents to manage and grow their businesses online.