Coverstack set to raise $11 Mn in new round

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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