# Toffcover Core Technologies Pvt.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/toffcover-core-technologies-pvt

- Industry: Insurance
- Headquarters: Gurgaon, India
- Website: www.toffeeinsurance.com
- Total disclosed funding: $8M
- Latest round: Series C (Apr 26, 2022)
- Investors on record: 6

## About

Toffcover Core Technologies Pvt. Ltd. specializes in innovative insurance solutions, focusing on customizable options for pet and health insurance to meet modern consumer needs.Founded in 2017 and headquartered in Gurgaon, India, Toffcover Core Technologies Pvt. Ltd. provides tailored insurance solutions. The company has successfully raised INR 240 mn in SERIES E funding from IVM Intersurer on November 18, 2022, bringing its total amount raised to INR 240 mn and current valuation to INR 661.716 mn. The founders include Nishant Jain, Rohan Kumar, Stefan Petric, and Yousef Abdulhassan, with Rohan Kumar and Stefan Petric serving as the current CEOs.Toffee Insurance offers a variety of insurance products focused on modern consumer demands. Their primary offerings include customizable pet and health insurance solutions, particularly designed to cover veterinary expenses and gaps in traditional health plans. Their products are marketed primarily toward individuals and families in the United States, aiming to enhance accessibility and affordability of essential insurance services.In the most recent year, Toffee Insurance reported a revenue of INR 1,806,197 and an EBITDA of INR -2,875,279.8.Toffcover is planning to leverage the recent SERIES E funding of INR 240 mn to enhance its product lineup and expand its market presence. The company is exploring the launch of new insurance products tailored for various consumer segments in 2024. Additionally, Toffcover aims to enter new geographic markets, specifically targeting expansion into Europe and Southeast Asia by late 2024, which will be supported by the recent capital raised.

## Funding rounds

- Series C, Apr 26, 2022, $1M — Omidyar Network, Flourish Ventures, IVM Intersurer BV
- Series B, Nov 18, 2021, $1M — Kalaari Capital, Accion, Omidyar Network, Flourish Ventures, IVM Intersurer BV
- Series B, Dec 25, 2019, $4.5M — Kalaari Capital, Accion, Omidyar Network, Flourish Ventures, IVM Intersurer BV
- Series A, May 30, 2018, $1.5M — Kalaari Capital, Accion, Omidyar Network, Fair Finance Fund

## Investors

- Kalaari Capital (https://capitalatlas.ai/funds/kalaari-capital) — Series A, Series B
- Accion (https://capitalatlas.ai/funds/accion) — Series A, Series B
- Omidyar Network (https://capitalatlas.ai/funds/omidyar-network) — Series A, Series B, Series C
- Fair Finance Fund — Series A
- Flourish Ventures (https://capitalatlas.ai/funds/flourish-ventures) — Series B, Series C
- IVM Intersurer BV — Series B, Series C