Early backers of Insurance Samadhan including the first institutional investor – Venture Catalysts, takes partial exit with returns ranging from 2.85x to 3.65x

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Early backers of Insurance Samadhan including the first institutional investor - Venture Catalysts, takes partial exit with returns ranging from 2.85x to 3.65x
Early backers of Insurance Samadhan including the first institutional investor - Venture Catalysts, takes partial exit with returns ranging from 2.85x to 3.65x

Angel Investors made a successful exit with a remarkable 3X return on their investment.

Venture Catalysts had invested in Insurance Samadhan early in a seed and pre-series A round of funding and has attained a successful partial exit within less than 3 years.

New Delhi, December 7, 2023: Venture Catalysts, India’s first and largest early-stage investment firm, today announced a partial exit from its portfolio company, Insurance Samadhan, a leading platform that resolves insurance complaints, after achieving an incredible return of up to 3.65x on its initial investment in the company. Other angel investors made a successful exit with a remarkable 3X return.

Established in August 2018, Insurance Samadhan is a tech-based platform for the resolution of insurance complaints like claim rejection, delay, short-settlement, and misselling of insurance policies. The founding team, with over a century of combined experience in the insurance industry, is revolutionizing the way misselling and claim settlements are handled. Venture Catalysts had invested in Insurance Samadhan early in a seed and pre-series A round of funding and has attained a successful partial exit within less than 3 years.

Commenting on the successful exit from Insurance Samadhan, Dr. Apoorva Ranjan Sharma, Founder & MD of Venture Catalysts, said, “A unique platform that is dedicated to providing the highest level of convenience to customers and policyholders, Insurance Samadhan has displayed remarkable growth and is set to revolutionize the insurance industry. The exit opportunity goes a long way in establishing confidence within the entrepreneurial ecosystem and encourages investors to bolster promising startups further.

Reflecting on this, Mr. Deepak Bhuvneshwar Uniyal, co-founder & CEO of Insurance Samadhan, expressed, “Insurance Samadhan stands as India’s most trusted platform for resolving insurance grievances. We extend our heartfelt gratitude to Venture Catalysts for their early-stage trust in us. Your faith and confidence propelled us to scale greater summits. There’s no greater satisfaction for a founder than offering a commendable exit to their investors. We remain committed to seeking your valuable guidance and support in our journey ahead.

Speaking about the exit, one of the angel investors, Mr. Mandar Joshi, said, “I invested in InSa around 4 years ago at the idea stage. A technology-driven insurance grievance redressal platform. First of its kind in India. There was no reference point or benchmark available at that time. As always, I believed in the vision and capabilities of the founding team. My decision to invest was undoubtedly correct.”

The company raised 2 million dollars in a successful Series A round, led by IIFL. It’s also been certified as an eligible business under Section 80IAC. The company’s revenue has grown impressively by 100% year over year.

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