Plum raises Series B funding led by Peak XV Partners
26 Mar 2026, 11:24 AMExisting investor Tanglin Venture Partners and new investor GMO Venture Partners participated in the funding round.
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Insurtech startup Plum said it has raised Rs 193 crore in a Series B funding round led by Peak XV Partners.
Existing investor Tanglin Venture Partners and new investor GMO Venture Partners participated in the funding round, a statement said.
The Bengaluru-based startup will invest the fresh capital in talent, technology, enterprise-grade security, AI-driven claims operations, and deeper integrations with HR and payroll systems, it added.
"This round gives us the capital to move faster on what we know works, while expanding the platform across healthcare and employee benefits," said Abhishek Poddar, co-founder and CEO, Plum.
In July last year, Plum had set up a separate health vertical, Plum Health, in parallel to its insurance business. It had said it was committing Rs 200 crore to the vertical. The company had appointed Prayat Shah, former founder of Wellthy Therapeutics, as head of healthcare.
In the latest statement, Plum said that it is expanding beyond claims into preventive care, primary care, mental wellness, and telehealth.
The funding comes after Plum’s first full year of EBITDA and cash flow profitability, it stated,
It also claims that its net promoter score (NPS) is 79. An NPS of above 70 indicates a high level of customer satisfaction, loyal advocates, and strong brand perception, often surpassing the top quartile of industry standards.
It added that it has processed more than 500,000 claims. It serves more than 6,000 organisations across India, including CRED, Meesho, PhonePe, Swiggy, Tata CLiQ, Urban Company, WeWork, and Zomato.
"Today, Plum serves organisations ranging from fast-growing startups to large enterprises, and we believe its product depth and operational discipline position it to define the future of employee benefits in India," said GV Ravishankar, managing director, Peak XV.
Plum, which was founded in 2019 by Poddar and Saurabh Arora, had last raised $15.6 million in its Series A funding round led by Tiger Global. Peak XV's Surge, Tagline Venture Partners, Incubate Fund and Gemba Capital had also participated in the funding round.
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