Onsurity raises $16 million in funding round led by Quona Capital
Summary
Employees health benefit services firm Onsurity on Wednesday said it has raised USD 16 million (around Rs 118.6 crore) in a funding round led by leading fintech investor Quona Capital. The Series A funding round also saw participation from Clover Healthcare founder and CEO Vivek Garipalli and existing investor Nexus Venture Partners, the company said. Small and midsize businesses (SMBs in India employ 3-100 employees and have traditionally had no access to affordable health plans. The startup firm provides mediclaim benefits, discounts on medicines and group insurance services through its partners to employees subscribing to its plan. Onsurity co-founder Kulin Shah said that the company at present has around 1,300 small and medium businesses on board which it plans to increase to 10,000 within a year.