Today in the Connected Economy: Pazcare Valued at $48M After Series A

Today in the connected economy, employee benefits and InsurTech firm sees its value rise following an $8.2 million Series A round. Also, FinTech Tintra wants a patent to protect its digital wallet tech, and eCommerce FinTech SellersFunding launches two working capital products for small businesses.

B2B InsurTech Platform Pazcare Raises $8.2M for Expanded Insurance Products

Employee benefits and B2B InsurTech company Pazcare has raised $8.2 million in Series A funding round, valuing the Indian company at $48 million.

Pazcare provides employee benefits and group health insurance platforms, while also helping its clients design custom workplace benefits for their employees.

“India as an economy is going through one of the most exciting times,” said Pazcare Co-Founder and CEO Sanchit Malik. “Insurance as a market is going to see leapfrog growth in the current decade. We believe health and life insurance penetration will be employer-driven.”

Tintra Seeks UK Patent to Protect Digital Wallet Linking Tech

FinTech firm Tintra has applied for a patent in the U.K. to protect its technology that connects digital wallets with common ownership across different platforms and accounts, “… especially in the context of Web 3.0.”

The intellectual property was created as part of Tintra’s rapid research and development program called “Project Revolution” and the firm is seeking international patent protection, the filing said. CEO Richard Shearer said the program lasted 90 days and the results were better than anticipated.

“The outputs include strategic leaps forward across the regulatory, technology and operations teams and have crystalized our mission in one place for the first time. We expect to start publishing these results over the coming weeks,” Shearer said in the filing.

FinTech SellersFunding Launches 2 New Small Business Financing Resources

eCommerce FinTech SellersFunding is unveiling a pair of working capital products to boost its small business resources.

The new products – Invoice Factoring and Purchase Order (PO) Financing – will let SellersFunding expand its offerings to clients outside of the eCommerce space and into the realm of wholesale.

SellersFunding is a digital platform with products designed to streamline global commerce across working capital, cross-border cash management, and business valuation markets.

“Since SellersFunding is already a trusted source for long-term non-dilutive financing, introducing products like Factoring and PO Financing was the natural evolution to further assist clients with their cash flow needs,” Abhi Chakraborty, the company’s vice president of credit, said in a news release.