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How Finhaat Is Bringing Insurance And Wealth Creation To India’s Rural & Semi-Urban Markets
- Finhaat, a Mumbai-based fintech startup founded in 2021, aims to bring insurance and wealth creation to rural and semi-urban markets in India by bridging the gap in financial inclusion.
- The platform distributes insurance products through a network of more than 200 insurers and 3,000+ individual agents across 85% of India's pin codes, catering to 8 million customers primarily through curated insurance distributed via institutions.
- In addition to insurance, Finhaat expanded into wealth management, offering tech-driven tools for investments, retirement planning, and long-term savings.
- The startup reported over 20% YoY revenue growth in FY25, reaching over INR 30 crore from INR 25 crore in FY24, earning revenue through platform fees and product-linked commissions.
- Finhaat emphasizes user education and technology integration to build trust among underserved communities and offers services such as claim management and data-based trend analysis.
- The platform has developed various products including FinSAAS for institutional partners, FinPRO for retail agents, and Finhaat Wealth for wealth management, focusing on convenience, security, and prosperity for customers.
- Having insured over 8 million lives, Finhaat is looking to focus on cattle, parametric, and climate-based insurance solutions for rural customers, targeting a gross written premium of INR 350 crore in the near future.
- By tailoring solutions for the local context and aiming to be a digital backbone for rural financial services, Finhaat plans to close FY26 with INR 250 crore in gross written premium and expand its wealth management vertical.
- The startup's goal is to empower rural communities by offering tools to cover risks, build wealth, and enhance financial inclusion, potentially becoming a key player in India's inclusive financial infrastructure.
- In a rapidly transforming rural financial services market in India, Finhaat stands out by providing context-driven, tech-enabled solutions with trusted human touchpoints, positioning itself as a vital entity in the sector.
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