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Digital insurance company Coverstack, a B2B platform under the Coverfox Group, is set to raise Rs 95.7 crore (around $11 million) in a new round comprising both primary and secondary stake sales. This will be the company’s first major fundraise in the past five to six years.
The board at Coverstack has passed a special resolution to issue 19,216 preference shares and 3,187 share warrants at an issue price of Rs 33,827 each to raise Rs 75.78 crore in a primary round, its regulatory filing accessed from the Registrar of Companies (RoC) shows.
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