When was Square Insurance founded?

Square Insurance was founded in 2017 and raised its 1st funding round 6 years after it was founded.

Where is Square Insurance located?

Square Insurance is headquartered in Jaipur, India. It is registered at Unit No 506, 5th Floor Trimurty V-Jai City Point Ahimsa Circle, C-Scheme, Jaipur, Jaipur, Rajasthan, India, 302001.

Who is the current CEO of Square Insurance?

Akash Parwal of Square Insurance. They have also founded 1 company.

Which legal entities is Square Insurance associated with?

Square Insurance is associated with SQUARE INSURANCE BROKERS PRIVATE LIMITED.

How many employees does Square Insurance have?

As of Aug 31, 2025, Square Insurance has 243 employees, reflecting a 39% year-over-year growth in headcount.

Is Square Insurance a funded company?

Square Insurance is a funded company, having raised a total of $4M across 2 funding rounds to date. The company's 1st funding round was a $***** Seed round, raised on Aug 21, 2023.

How much is Square Insurance worth?

The latest valuation of Square Insurance is $***** as of Jul 17, 2024. This marks a decline of 25% from its peak valuation of $6.32M in Jul, 2024. This marks a decline of 25% from its peak valuation of $6.32M in Jul, 2024.

When was the latest funding round of Square Insurance?

Square Insurance's latest funding was a $***** Seed round on Jul 16, 2024, with participation from 6 investors. Its primary sector is Internet First Insurance Platforms. In India, the Internet First Insurance Platforms sector has seen $175M in funding in 2026 to date.

What is the annual revenue of Square Insurance?

Annual revenue of Square Insurance is between ₹100 Cr and ₹500 Cr as on Mar 31, 2025

Where does Square Insurance rank among its competitors?

Square Insurance ranks 36th amongst 820 active competitors, of which 96 are funded. It stands 9th in terms of total funding among its competitors. The most recent competitor to raise funding was Coverfox Insurance, which secured an undisclosed amount in Jan, 2025.

Who are the top competitors of Square Insurance?

Square Insurance's top competitors include Turtlemint, Policybazaar and PB Fintech. Among them, Coverfox Insurance secured the most recent funding round in January, 2025.

Square Insurance - 2026 Company Profile, Team, Funding, Competitors & Financials

Company Details

Platform for insurance broking and policy comparison. It enables users to compare, purchase, and manage life, health, motor, travel, and business insurance policies through a single interface. The platform integrates multiple insurance providers, facilitating claims support, renewals, compliance, and real-time policy tracking to simplify insurance workflows.

Website: www.squareinsurance.in/
Social
Email ID: *****@squareinsurance.in
Phone Number: +91 **********
Registered Address: Unit No 506, 5th Floor Trimurty V-Jai City Point Ahimsa Circle, C-Scheme, Jaipur, Jaipur, Rajasthan, India, 302001

Key Metrics

Founded Year

2017

Location

Jaipur, India

Stage

Seed

Total Funding

$4M in 2 rounds

Latest Funding Round

Seed, Jul 16, 2024, $*****

Post Money Valuation

$***** as on Jul 17, 2024

Investors

Recur Club & 9 more

Ranked

36^th among 820 active competitors

Annual Revenue

₹100 - ₹500 Cr as on Mar 31, 2025

Employee Count

243 as on Aug 31, 2025

Similar Companies

Turtlemint & 1067 more

View Square Insurance's full profile

Square Insurance is associated with 1 legal entity given below:

Legal Entity Name	Date of Incorporation	Revenue	Latest Employee Count	Documents
SQUARE INSURANCE BROKERS PRIVATE LIMITED CIN: U66000RJ2016PTC056324 , India, Active	Nov 07, 2016	₹100 - ₹500 Cr (As on Mar 31, 2025)	243 (As on Aug 01, 2025)

Square Insurance has raised a total funding of $4M over 2 rounds. Its first funding round was on Aug 21, 2023. Its latest funding round was a Seed round on Jul 16, 2024 for $*****. 6 investors participated in its latest round. Square Insurance has 8 institutional investors and 2 angel investors.

Here is the list of recent funding rounds of Square Insurance:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Jul 16, 2024	4894583	Seed	8654411	3359047	6612326	4034848
Aug 21, 2023	1256887	Seed	3792367	6810366	Recur Club	1893777

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View details of Square Insurance's funding rounds and investors

The founders of Square Insurance are Rakesh Kumar and Akash Parwal. Akash Parwal is the CEO of Square Insurance.

Here are the details of Square Insurance's key team members:

Rakesh Kumar: Co-Founder & Managing Director of Square Insurance. They serve on the board of 1 company.
Contact Info: 1 phone number
Akash Parwal: Co-Founder & CEO of Square Insurance.
Contact Info: 1 email address

Square Insurance's Board of Directors

Square Insurance's board has 3 active members. Rakesh Kumar and Akash Deep Parwal are part of team and Kamal Singh Panwar is independent board member.

Here is the list of Square Insurance's board of directors:

Name	Type	Representing	Status	Duration
hxasafm	Team	-	Past	1y 3m
koipfky	Team	-	Past	1y 6m
Kamal Singh Panwar	Independent board member	-	Current	5y 6m

View details of Square Insurance's Founder profiles and Board Members

Square Insurance's employee count trend

Square Insurance has 243 employees as of Aug 25. The total employee count is 39.0% more than what it was in Aug 24. Here is Square Insurance's employee count trend over the years:

Employee count trend for Square Insurance

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Top competitors of Square Insurance include Turtlemint, Policybazaar and PB Fintech. Here is the list of Top 10 competitors of Square Insurance, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Turtlemint 2015, Mumbai (India), Public	Provider of platform for comparing and purchasing insurance, loans, and funds	$220M	Peak XV Partners, Nexus Venture Partners ... & 16 others	82/100
2nd	Policybazaar 2008, Gurugram (India), Late Stage	Online marketplace for purchasing various types of insurance policies	-	Education Growth Partners, Chiratae Ventures ... & 12 others	76/100
3rd	PB Fintech 2008, Gurugram (India), Public	Provider of an online platform offering insurance and lending products through its flagship brands	$443M	Intel, SoftBank Vision Fund & 207 others	75/100
4th	EverQuote 2011, Cambridge (United States), Public	Online comparison platform for automotive & other insurances	$37.6M	Savano Capital Partners, Second Alpha & 7 others	74/100
5th	NerdWallet 2009, San Francisco (United States), Public	App-based comparison platform for financial products	$123M	IVP, Camelot Capital & 14 others	74/100
6th	Policygenius 2014, New York City (United States), Acquired	App-based insurance comparison platform for individuals	$288M	Norwest, Revolution & 25 others	72/100
7th	Meilleurtaux 1999, Paris (France), Acquired	App-based comparison platform for life and non-life insurance & loans	$22M	Edmond de Rothschild, Galileo Partners & 3 others	71/100
8th	Coverfox Insurance 2013, Mumbai (India), Series C	Provider of platform to compare and purchase various insurance policies online	$55.1M	Accel, Elevation Capital & 29 others	71/100
9th	Confused.com 2002, Cardiff (United Kingdom), Public	App-based comparison platform for life and P&C insurances	-	-	71/100
10th	Insurify 2013, Cambridge (United States), Series B	Online comparison platform for car insurance	$154M	MassMutual Ventures, Nationwide & 11 others	70/100
36th	Square Insurance 2017, Jaipur (India), Seed	Platform for insurance broking and policy comparison	$4M	BizdateUp, Negen Angel Fund & 8 others	52/100

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Founders (largest shareholder) own 59.40%, Funds own 11.37%, Enterprises own 5.61% and Angels own 4.79%. The net worth of Square Insurance's founders is INR 31.4Cr as of Jul 16, 2024.

Shareholders Name	Post Round Holding %	Net worth	Cumulative Investment	Realised Returns	Unrealised Returns	Return Multiple
Founder	59.40%	31.4Cr	8504200	5230004	8105081	6597238
Rakesh Kumar	4879043	4097543	4192206	1545164	9062277	2269844
Fund	11.37%	6Cr	4791687	2998072	2907654	5940009
Negen Angel Fund	5707016	9033306	2382603	6683748	7445030	2511778
Enterprise	5.61%	2.96Cr	56663	60066	50229	22850
Angel	4.79%	2.52Cr	2628	6127	4371	1956
Other People	11.42%	6.04Cr	2585067	3059258	1947745	2481309
ESOP Pool	7.43%	3.92Cr	4153256	5759259	5996028	3432176
Total	100.00%	52.8Cr	7018357	4548694	2957458	6437380