Zopper's Ambitious Expansion: Eyeing IPO and Inorganic Growth

Insurtech company Zopper is concentrating on expanding its operations with potential plans for an initial public offering (IPO) within the next three to five years, according to a top official.

Zopper recently secured USD 25 million in growth capital from investors to boost its expansion efforts and invest in cutting-edge technology. Despite having a positive gross margin, the company continues to reinvest profits into growth, co-founder and Chief Operating Officer Mayank Gupta revealed.

Gupta noted that Zopper is not aiming to break even currently, choosing instead to allocate revenues towards expansion. The firm is prepared to explore inorganic growth strategies, including acquisitions, if the right opportunity arises. Although Zopper is present in 1,200 cities and collaborates with 40 insurance companies, it remains committed to strengthening its business and establishing a predictable business model before considering going public.

(With inputs from agencies.)