Mumbai, India based insurance broker Coverfox has raised $15m in Series A funding led by Transamerica Ventures. Coverfox Insurance Broking provides insurance brokerage services. It offers car, bike, health, travel, and home insurance products.
The Mumbai-headquartered company, which competes with the likes of Tiger Global and PremjiInvest-backed PolicyBazaar, as well as Unilazer Ventures-backed EasyPolicy, is also in discussions with Fosun Kinzon Capital, the VC unit of Chinese conglomerate Fosun International, according to multiple sources. The Chinese investment company, which recently picked up stakes in technology-focused logistics company Delhivery and online travel search engine Ixigo, has been in negotiations with the Coverfox management, which if successful, could see it invest $5-10 million, in what could be an extension of the latest round.