PLUM BENEFITS INSURANCE BROKERS PRIVATE LIMITED

Business Overview

• Plum, legal entity: Plum Benefits Insurance Brokers Pvt Ltd, is an Indian insurtech operating an employee health-benefits and insurance-broking platform.
• It offers group health insurance, term life insurance, personal accident cover, and integrated healthcare services, telehealth, wellness programs, health checkups, to corporates from startups to large enterprises.
• Per the company's own site (plumhq.com): 6,000+ companies served, 600,000+ lives insured, 100,000+ claims processed
• Holds IRDAI Direct Broker (Life & General) license No. 897
• Certified ISO/IEC 27001:2013, SOC 2 Type 2, GDPR.
• Clients cited in press include Zomato, Swiggy, Atlassian, CRED.
• Founded 2019 by Abhishek Poddar and Saurabh Arora.
• Recognitions: Insurtech of the Year 2023–24, Global Fintech Fest, Forbes Asia 100 to Watch, LinkedIn Top Startups India. [Source: plumhq.com, Inc42, Business Line]

Sector & Classification

Financial and insurance service activities — Internet/Online Financial Services; entity holds an IRDAI Direct Broker license (Life & General) — Registration No. 897, per company's own site (plumhq.com)

Directors & Key Management

GST Registrations

Not obtained — no GSTIN could be located via knowyourgst.com, findgst.in, or general web search under this exact legal-entity name; company likely holds Karnataka-registered GSTIN(s) given HQ location, but unverified. Do not infer/assume a number.

Financials

• FY2025, standalone, per Tofler/TheCompanyCheck — both reference the same underlying MCA filing snapshot: Operating revenue ≈ ₹60.61 Cr, TheCompanyCheck point estimate; Tofler shows same period in the "₹50–75 Cr" band, up ~83% YoY.
• Reported operating margin ~27.7%, net margin ~27.6%, Tofler, unverified precision — flagged as partial since full P&L is behind Tofler Pro paywall.
• Net worth described as up ~1,990% since incorporation but down ~1.33% YoY most recent period (Tofler) — the two figures look like different comparison bases
• Treat as partial/needs reconciliation.
• EBITDA, PAT (absolute ₹), and borrowings (loan quantum) not disclosed on free-tier pages — "not obtained" for exact figures.
• Separately, Inc42/Business Line report the company achieved "its first full year of EBITDA and cash-flow profitability" as of the March 2026 funding announcement — directionally consistent with the margin figures above but not the same as an audited EBITDA ₹ figure.
• EPFO-reported headcount: ~208 employees, TheCompanyCheck.

Funding History

• Two rounds identified via press, Inc42, The Hindu Business Line, CIOL: (1) Seed — ₹7 Cr, July 2020, led by Incubate Fund with Gemba Capital and Tracxn Labs, plus angel investors, Abhijit Gupta & Ram Sahasranam of Praxify Health, Sudheendra Chilappagari of Belong.co, Nitin Jayakrishnan of Pando, Alvin Tse of Xiaomi. (2) Series B — ₹193 Cr (~US$20.6 Mn), announced 26 March 2026, led by Peak XV Partners, existing investor, with Tanglin Venture Partners and GMO Venture Partners participating.
• LinkedIn/company materials also describe Plum as "backed by Sequoia and Tiger Global" — likely reflecting an intermediate unnamed/undisclosed round (s) between seed and this Series B, since no single article names a full round-by-round history
• Flagged as a probable source gap rather than a conflict. Total disclosed funding across named rounds: ₹7 Cr + ₹193 Cr ≈ ₹200 Cr
• A cumulative "since inception" total citing "$20.6 Mn" in one source appears to conflate the Series B amount with lifetime total — treat that specific cumulative-USD claim as unverified.
• No valuation figure was found in any source (not obtained).
• Tracxn page fetch for the round-name-only cross-check returned 404 and could not be used.

Shareholding

• Not obtained in detail. Abhishek Poddar is listed as a shareholder, in addition to director, on TheCompanyCheck/Tofler snapshots
• Exact shareholding percentages/cap table are behind Tofler Pro paywall and not disclosed on any free source checked.
• Given the funding history, seed + Series B with Peak XV/Sequoia/Tiger Global/Tanglin/GMO, the company is expected to have institutional investors on its cap table, but no source gives share percentages — do not infer numbers.

Loans & Charges

• category "Others", source: TheCompanyCheck, MCA-filing based. No satisfied/ . No charge-holder/lender name was surfaced in the free-tier snapshot — not obtained

Related Parties

• No group/related-party entities or holding-company structure could be confirmed.
• A targeted check for a Singapore or overseas holding entity, common flip structure for VC-backed Indian startups, returned no evidence either way — status: not obtained, do not assume existence or absence.

Credit Ratings

• Not obtained. No CRISIL/ICRA/CARE rating found for this entity — expected for a privately-held, VC-funded operating company with no listed debt instruments
• Not attributed to any group entity's rating, avoiding entity-confusion trap per instructions.

Legal & Compliance

• Indian Kanoon search for "Plum Benefits Insurance Brokers" returned no matching judgments/orders as of the search date. No litigation identified.

Competitive Landscape

• Named peers in the Indian employee-health-benefits/insurance-broking-for-corporates space: Onsurity, Loop Health, Nova Benefits, Pazcare — all VC-funded insurtech/benefits platforms of broadly comparable early-to-growth stage, seed through Series B/C, competing on group health insurance + wellness bundling for SME/startup clients., Scale differentiation not independently verified for each — reported directionally only, not with specific funding/revenue figures per peer, to avoid unverified claims.

Frequently Asked Questions