Toffee Insurance raises $1.5 million

BENGALURU: Digital insurance platform Toffee Insurance has raised $1.5 million in a seed round led by Kalaari Capital, Omidyar Network and Accion Venture Lab. The firm plans to use the fresh funds on product development and expanding its team. The firm said that buying insurance on its platform takes less than 90 seconds and simple claims are processed in under two hours via a completely digital interface.