Insurance web aggregator Easypolicy, backed by Unilazer Ventures, has merged peer company Quickbima with itself.
The combined company will operate under the Easypolicy brand, according to a press statement. The companies didn’t disclose financial terms of the merger.
The companies said the deal will bring Quickbima’s technology infrastructure and distribution network into the fold of Easypolicy. The aim of the merger is to drive efficiencies, they added.
Divyanshu Tripathi, co-founder and chief executive of Easypolicy, will be CEO of the combined company. Quickbima co-founder Ankit Sachdeva and director Sunil Juneja will join Easypolicy’s board as chief technology officer and chief operations officer, respectively.
“The alliance will help us enter untapped markets and grow exponentially, offering superior experience on our new tech-driven website and mobile app,” Tripathi said.
The combined entity expects to bring other customer-centric initiatives, too.
Easypolicy had raised $2.2 million (Rs 15 crore) in 2016 in a funding round led by media entrepreneur Ronnie Screwvala’s Unilazer Ventures. Anil Jain, managing director at Refex Energy Ltd, had also participated in the round.
Easypolicy had earlier raised an undisclosed sum from Gaurav Burman of Dabur Group through his family office.
According to VCCEdge, the data research platform of Mosaic Digital, Unilazer and Burman topped up their investment in 2017 and 2018.