Avendus Capital advises Plum on its INR 193 cr fundraise led by Peak XV Partners, with participation from Tanglin Venture Partners and GMO Venture Partners

We made a decision on day one that our north star would be the claims experience, and that everything else would follow from getting that right. Six years in, that belief has shaped the product, the business, and the outcomes we have delivered for customers. This round gives us the capital to move faster on what we know works, while expanding the platform across healthcare and employee benefits.

Plum has reimagined employee health insurance by focusing on one of the moments that matters most to users: the claim. The team has built a fundamentally better product and customer experience, from onboarding and coverage design to claims resolution and preventive care. Today, Plum serves organizations ranging from fast-growing startups to large enterprises, and we believe its product depth and operational discipline position it to define the future of employee benefits in India.

We are delighted to partner with Plum on this fundraise as they scale a next-generation platform at the intersection of insurance, healthcare, and enterprise technology. Plum has taken a fundamentally different approach to employee health benefits by focusing on the moments that matter the most, particularly the claims experience, and building a system that is fast, tech-driven, and scalable. This transaction reflects Avendus’ continued focus on partnering with new-age platforms that are rethinking traditional sectors, solving for real user needs at scale, and building defensible moats over time.