Business-to-business (B2B) SaaS insurance startup MetaMorphoSys has raised $3 million in funding led by Info Edge-backed technology fund Capital2B. Angel investors like Pavitar Singh and Dhruv Dhanraj Bahl participated in the funding.
MetamorphoSys will use the capital to expand and invest in innovative solutions.
Founded in 2016 by Amit Naik and Kewal Vargant, MetaMorphoSys is a low-code SaaS-based platform pre-configured with benefits, coverages, rules and vocabularies to help insurance companies launch innovative products across categories such as motor, travel, property, life and health.
Amit Naik, Co-founder of MetaMorphoSys, said, “The insurance industry is accelerating investment in digital platforms. We are excited by the confidence of our customers and investors as we continue our journey to streamline the insurance ecosystem.”
Amit Behl, Partner at Capital2B, said, “Insurers across the world are embarking on a digital transformation journey to ensure proactive and instant customer service. MetaMorphoSys middleware platform integrates with legacy systems of insurers and the ready APIs ensure digital customer journeys can be accelerated for onboarding, servicing, and processing claims. Global insurance companies are using the platform to quickly launch new insurance products and improve time to market. This round of funding shall help MetaMorphoSys further innovate and scale its vertical SaaS platform to many leading insurers in India and the Asia Pacific.”