Insurtech platform Pazcare raises $8.2 million funding led by Jafco Asia

Mumbai: Employee benefits and insurtech platform Pazcare has raised $8.2 million in a funding round led by Jafco Asia at a $48 million valuation. Existing investors 3One4 Capital and Beenext also participated in the round.

Pazcare will use the funds to improve its product line and expand its business. To date, it has raised $12 million.

Founded in 2021 by Sanchit Malik and Manish Mishra, Pazcare offers solutions for employee benefits and group health insurance requirements. They help employers make informed decisions about their employees’ healthcare needs and also help them design customised workplace benefits.


The company has so far insured employees of over 500 companies such as Mindtickle, Mamaearth, Levi’s, Cash Karo, and Open Financial, among others.

“India as an economy is going through one of the most exciting times. Insurance as a market is going to see leapfrog growth in the current decade. We believe health and life insurance penetration will be employer-driven,” said Sanchit Malik, cofounder and CEO, Pazcare.