Funding · Financial Services

Plum raises ₹193 crore in Series B round

By Startup Enthusiast · 26 March 2026

What they do

Plum is a B2B insurtech platform that offers employee health benefits to companies

It raised ₹193 crore ($20.6 million) in Series B funding led by Peak XV Partners

The company turned EBITDA and cash flow positive for a full year and plans to expand into preventive care

Plum raised ₹193 crore ($20.6 million) in a Series B funding round.
The round was led by existing investor Peak XV Partners.
Participating investors included GMO Venture Partners and Tanglin Venture Partners (also an existing backer).
The company's valuation is ₹1,181 crore as stated by CEO Abhishek Poddar.
Plum turned EBITDA and cash flow positive for a full year.
Funds will be used to scale go-to-market, invest in technology, and expand into preventive and primary healthcare.
The company also plans to strengthen AI-led claims processing and hire talent.

Plum's healthcare revenue is growing at a triple-digit pace and is expected to contribute 40-45% of revenue in a few years.
Claims volumes surged nearly 50x in the past four years while team size only doubled.
78% of claims are now processed without human intervention, up from 34% in 2022.
The company serves over 6,000 organisations covering more than 600,000 employees.

Plum is a B2B insurtech platform offering employee health benefits (insurance and healthcare services) to companies.
It started as an insurance broking platform and is now growing its healthcare vertical.
Revenue mix is approximately 80% insurance and 20% healthcare.
Healthcare revenue is growing at a triple-digit pace.
Clients include CRED, Meesho, PhonePe, Swiggy, Zomato, WeWork, and Atlassian.
The company serves over 6,000 organisations covering more than 600,000 employees.
FY25 revenue was nearly ₹70 crore, with six months of EBITDA profitability.

Product: An employee health benefits platform combining insurance with healthcare services.
Customers: Employers and businesses that provide health benefits to employees.
How it makes money: It makes money by selling employee health benefits and insurance-related services to businesses.
What sets it apart: AI-driven claims operations and tighter HR and payroll integrations.
Operations: It plans to expand into preventive care, primary care, mental wellness and telehealth.