Insuretech startup MetaMorphoSys, which helps insurance companies launch new insurance products, has secured $3 Mn in its seed funding round. The funding was led by Capital 2B along with angel investors–Pavitar Singh and Dhruv Dhanraj Behl. The latest investment has raised the startup's total investment to $4 million. Previously, they secured seed funding from Rohan Malhotra and Arjun Malhotra from Good Capital VC and Rahul Khanna from Trifecta Capital in 2020.
As per the company's statement, MetaMorphoSys will utilise the cash injection to expand the sales team across the geographies, develop its platform and work on product offering expansion along with legacy integrations.
The Pune-based startup was founded in 2016 by Amit Naik and Kewal Vargante. It is a business-to-business (B2B) SaaS insurance platform which helps insurance companies to launch several insurance products for travel, motor vehicles, property, life and business.
MetaMorphoSys’ offerings include a product configurator, customer engagement and acquisition, sales analytics and a recommendation engine, among others. The company claims that its clients include insurance companies based in Hong Kong, Singapore, Indonesia, Vietnam and India.
Amit Naik, CEO and co-founder of MetaMorphoSys Technologies, "Insurance companies across the globe are using the MetaMorphoSys to launch their products, empower their sales force, settle claims, identify fraud and optimize the entire value chain from customer acquisition to customer engagement including embedded insurance."
“MetaMorphoSys has been architected to handle multiline insurance products across geographies including retail and group business with connectors to legacy and SaaS platforms” added Kewal Vargante Co-Founder.