InvestorQ : Why has Tiger Global invested in start-up Plum?
prachi Patwardhan made post

Why has Tiger Global invested in start-up Plum?

sara Kunju answered.
2 years ago

Tiger Global, one of the most active private equity investors in India, led the $15.6 million round of investment in Plum. Now Plum is a start-up in the insurance space with the intent to facilitate group health insurance covers. Already, marquee names like Sequoia and Tanglin are already stake holders in the company and they also participated in this round.

Plum plans to utilize these fresh funds for engineering, business development and also for regular operations. Plum essentially builds insurance products targeted at small businesses that cannot actually afford annual premiums. Group health insurance market in India is nearly 50% of the health insurance market and it is growing at 25% annually. Plum has aggressive growth plans build in targeting at 2025.