365telugu.com online news,India,june22, 2021: Employee Benefits andInsurtech platform PazCare todayannounced that it has raised an undisclosed amount from marquee angel investorsand entrepreneurs including BookMyShow’s founding team Ashish Hemrajani (Founder & CEO, BookMyShow) & Parikshit Dar (Co-founder &Director, BookMyShow), Haresh Chawla(Founding CEO, Network18 & Partner, TrueNorth), Mohit Garg (Co-founder, Oloid & Mindtickle) and Deepak Diwakar (Co-founder & CTO,Mindtickle), amongst several others.The amount raised by the firm is a part ofits seed round marking its first external fund raise.Founded in late 2020 by SanchitMalik, former Co-Founder of Townscript and Manish Mishra,ex-Director of Engineering at Mindtickle &Cleartax, PazCare launched its Employeebenefits platform in early 2021 and has since, onboarded over 70 companiesincluding MamaEarth, BookMyShow,Goodera, Mindtickle, GoMechanic, Appknox ,Upekkha, Avail Finance and Phi Commerce to name a few.
With an aim to build aseamless technology for employers, PazCare is on a mission to enable employeehealth benefits like never before. The company will use the funds raised tostrengthen its insurance and technology infrastructure in a bid to build astronger business and employee foundation while expanding its client base andpartnership network. Commenting on the investment, SanchitMalik, Co-Founder and CEO, PazCare said, “There are 1 million+ employers in India who aspire to provide seamlesshealth insurance & full stack benefits to their employees but are unable tofind the right mix if appropriate measures and competent cover schemes atvolume. PazCare aims to enable 10,000+ such employers to insure over 3 millionlives through its platform in the next 3 years with a razor-sharp focus on providingthe best value to our customers.
The team at PazCare has a deep and thoroughunderstanding of the Asia market and we look forward to creating value for allstakeholders across the chain including insurance and service providers,employers & employees.”Speaking on the investment, Ashish Hemrajani, Founder and CEO,BookMyShow said, “Parikshit and I have had the opportunity to work withSanchit and experience first-hand his commitment and passion towards building alasting consumer experience with his previous venture Townscript as part of theBookMyShow family. Sanchit along with Manish and the team are furthering theircommitment to offer a strong employee benefits value proposition and productfor companies all across with PazCare and it couldn’t have come at a moreopportune moment when safeguarding health is paramount. I can confidently saythat the product holds tremendous potential to disrupt, and I am glad to be apart of their exciting journey.”For PazCare, Sanchit Malik, a second-timeentrepreneur who successfully exited his previous startup Townscript, a DIYevent management platform with majority stake held by BookMyShow, has joined handswith Manish Mishra as CTO, who has been Director of Engineering with leadingstartups like Cleartax and Mindtickle.
The founding team at PazCare has astrong insurance, business, operations, product and technology background withthe team comprising Abhishek Mahato (Head of Operations, formerly with BharatPe& PayTM), Shalaka Parate (Head of SME Sales, formerly with Anviti &Marsh Insurance brokers), Dr. Kshama Sharma (Customer Success Lead, formerlywith Apollo Munich Health & Aviva Life Insurance) and Mithun Kumar(Formerly with Peelworks) helming key functions in the organisation.