FlashAid Secures $2.5 Million in Pre-Series A Funding to Expand Affordable Health Solutions

FlashAid, a healthcare and insurtech startup, has successfully raised $2.5 million in its pre-Series A funding round, led by Piper Serica Angel Fund and global venture capital firm SOSV. This round also saw participation from early-stage investors Z21 Ventures Fund and ZNL Growth Fund, indicating confidence in FlashAid's innovative approach.

The infusion of funds is earmarked for the company's expansion plans, targeting six new cities. FlashAid, founded by Manoj Gupta and Gunjali Kothari, is committed to providing a comprehensive health solution through its proprietary pre-underwritten products, open APIs, and embedded solutions.

Formerly operating under the name EasyAspataal, FlashAid is on a mission to democratize access to health insurance by creating an API-first health cover tailored to the needs of the general populace. By establishing a unique channel for retail health plan distribution via a B2B2C platform, the company aims to bridge gaps in accessibility and affordability.

With an impressive track record, FlashAid has forged partnerships with over 20 platforms, facilitating the distribution of 30,000 health covers. Notably, the company has achieved profitability at the EBITDA level, reflecting the efficacy of its business model. Currently boasting an annual run rate (ARR) of $1 million, FlashAid is poised for substantial growth, with projections indicating a surge to $10 million ARR within the next two years.