Toffee Insurance Raises US$1.5 Million Seed Round from Accion Venture Lab, Kalaari and Omidyar Network (Asia)

Source(s): Accion

India-based digital-only insurance platform Toffee Insurance has raised US$1.5 million in a seed financing round led by Accion Venture Lab, the seed-stage investment vehicle of financial inclusion-focused investor Accion, India-focused venture capital firm Kalaari Capital and philanthropic investment firm Omidyar Network. Toffee provides insurance offerings to millennials; its initial lineup of products spans health, lifestyle and personal accidents. Toffee plans to use the funds to focus on product development and expand its team.