Employee benefits and insurtech platform Pazcare raises $3.5M

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PazCare, a Bengaluru-based employee benefits and insurtech platform, reported on Wednesday that it secured $3.5 million (Rs 25 crore) in a seed round headed by BEENEXT, with participation from 3one4 Capital and other investors.

Pazcare, founded in 2020 by Sanchit Malik and Manish Mishra, allows employees to manage their benefits in real time and in one spot.

Pazcare offers flexible and tailored benefits to businesses and employees, such as insurance administration, mental health solutions, virtual medical consultations, thorough blood testing, and more.

Sanchit and Manish have a very product-led, unique take on how employee benefits need to be managed and delivered. They have shown amazing vision and product execution so far and we are incredibly excited to partner with them on their growth journey as they scale up this platform,” said Anurag Ramdasan, Partner, 3one4 Capital.

Sanchit Malik, Co-founder and CEO of Pazcare, said, “Through our world-class tech platform, we are trying to create a real-time user experience, which makes it extremely easy for the employer as well as the employee in personalising and managing their benefits. Over the next three years, we aim to be a leading full-stack employee benefits marketplace and platform that touches the lives of over three million employees.”