Insurtech Startup BimaPe Shuts, Founder Launches New Platform Verak
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India, Sept. 15 -- Y Combinator-backed fintech startup BimaPe has announced the closing of its business that was launched last year in November. Its Founder Rahul Mathur took to twitter to announce the development, admitting why he has decided to shut down BimaPe.
Mathur said that the startup wasn't able to reach its market-product fit (PMF) metric it set for itself in 2021 and over a three-month window, it fell short of the targets for its activation, acquisition and revenue metrics despite executing 15 changes (one per week). In addition, he mentioned that the customer feedback was also a reason for closing down the business.
BimaPe aimed to make insurance simpler for customers to enable them make informed decisions using know your cu...
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