06/04/2023
Why is this happening?
🚀In a span of 10 months, we went from onboarding 0 to 500 MSMEs per month. This wasn’t an easy feat. However, we soon hit scaling problems.
InsuranceDekho’s existing client base and operating resources will help us attain our mission of securing 10 Lakh+ small businesses in India by 2027.
đź’ˇWhat did we learn?
In true startup style, we learned a lot.
- Building small business financial solutions requires a huge field ops team, which is hard to assemble and even harder to retain.
- In FinTech, partner relations are everything. As a small company, we faced significant challenges here.
- Solving big problems requires huge capital. When selling insurance to small businesses, we saw low willingness to pay, low product awareness, and low sales margins.
🎯 What’s next for us?
Verak team is now a part of InsuranceDekho where we will be the SMB insurance team. We will continue to execute on our mission of securing small businesses in India. However, now we will have better support from a larger org.
It’s an exciting time ahead!
👉 Where can I follow Verak?
Since the team at Verak is moving to InsuranceDekho, ~~Verak shall eventually cease to exist.~~ However, we urge you to be part of our new journey by following us on {ID handle name}.
🙏 We can’t thank you enough
For witnessing our growth, supporting us, and asking us important questions. You made us better.
It has been a rewarding journey helping thousands of business owners with their insurance needs. And we’re excited for this new chapter! Check out a personal message from our founder here: http://bit.ly/3ZMRyWT
For further information, please contact: 755 1196 989
