FINCOVER®: This fintech startup serves as a one-stop shop for all things related to finance


Nextgen Fintech CompanyFINCOVER® is a one-stop destination to avail loans, check credit score for free, find/buy insurance and investment schemes from various companies

CHENNAI, India, July 18, 2023 /PRNewswire/ —


Achievements (FY22–23)

  • Number of insurance policies issued – 11000+
  • Number of loans processed – 16000+
  • FINCOVER® has assisted 550+ claims settlements in this Financial Year, always walking the extra mile when it comes to the claim settlement process.
  • Number of business partners – 1000+
  • FINCOVER® has crossed 150Cr. disbursement in the last FY, entering the top 5 DSAs in South India.

Entrepreneurship has always been a passion for Naresh Rajaram. After a brief stint with some software giants, Naresh began his journey as an entrepreneur with a product development company whose product, an online game, was massively popular among the Indian audience. Additionally, they were also involved in developing software for other industries like airlines, railways and educational institutions.

Sensing that a vast percentage of the Indian public remains financially unaware, Naresh along with Gurumoorthy A and Manjunath T started FINCOVER®, whose mission is to simplify finance in a way everybody can understand. Moreover, customers have to run from pillar to post to access various financial products. Envisioning a software solution that would prove to be the one-stop shop for all things related to finance, the idea of FINCOVER® stemmed while they were pondering over this question.

The Indian market is ripe with fintech sites in every nook and cranny. Insurance awareness and financial planning remain awfully low in India, and there is a large section of the populace that continues to remain unbanked; sensing an opportunity, they were determined to build a product that encompasses all these aspects of finance.

Surviving and thriving in this incredibly competitive race means the company must offer a seamless user experience to customers. With this as a focus, Naresh and his team passionately began working on FINCOVER® and leveraged all their experience to build a product that serves this purpose. Having a team of skilled engineers with demonstrated ability to build excellent products, they launched FINCOVER® in April 2021 in just a few months. FINCOVER® offers all services related to finance.

What does FINCOVER® do?

FINCOVER® is an online marketplace where you can buy insurance policies, investment schemes, and opt for various types of loans, banking products and credit cards. FINCOVER® has partnered with all leading insurance companies, public and private banks, NBFCs, fund houses, and investment companies. They have a robust distribution model for these products with best practices that could help them touch base with the potential customer and convert them. In this process, they have partnered with more than 20000 Point of Sales persons (PoSPs) who are also able to reach customers from remote places.

Naresh Rajaram, Co-Founder, says, “The first step is educating the customers and making them aware of the product which we believe is possible through engaging PoSPs. Despite the emergence of technologies that could do virtually anything these days, we feel a human touch would always be required. This thought process went into the development, and now we have come up with a product that combines technology with the right amount of human interaction.”

FINCOVER® has partnered with all leading banks           


Within a year of launch, FINCOVER® has disbursed loans worth more than 150 crores and have disbursed over 50000 policies and have emerged to secure a place among the top 5 DSAs of India. They have partnered with more than 20000 PoSPs to facilitate easy and seamless disbursal. With a headcount over 150+ employees, they have offices in Chennai, Coimbatore and Kerala, and are looking to expand to all the major metros and Tier II and Tier III cities.

Of all Indians, 75% are not covered by any form of life insurance, and only a tiny percentage of people have the means to survive in the event of the death of a breadwinner.  Gurumoorthy A, who has nearly two decades of experience in the insurance industry working with all leading insurers says, “Our primary job is to enhance consumer awareness on various aspects of insurance; so many people lose their lives because of improper medical care. Only a healthy individual can contribute positively towards our nation’s growth; health insurance is the only tool to ensure people get the best treatment in the event of health emergencies. We have teams that educate the customers about the benefits of insurance and get all their queries cleared. Apart from selling the policies, we also assist the customer in claim support. Till date, we’ve helped settle more than 2000 claims within a year for motor and health insurance.”

Future vision and Goals

Manjunath T, who is the director of Operations, said “Our roadmap for the year 202324 is to scale our business and expand our operations to Tier II and Tier III cities. We are focussing on metros at the moment, and we’re making all arrangements to take our operations into Tier II and Tier III towns. It is those regions where financial planning and awareness is low; our job is to educate them about financial planning and insurance and convert them as our customers.” Before commencing operations in these towns, they have plans to conduct awareness programs in these underserved areas. For this, they are raising funds in the short term.

When asked about challenges that they face as the fintech space in India is already very competitive, Naresh optimistically says, “It is true that this is an extremely competitive field, but we are geared to go all in. We have a technically superior product that helps operate flawlessly, gives the right results for the customer’s choices, and on top of that we provide excellent customer support. We’re pulling every stop to ensure that we lead people in the right direction to ensure that they remain financially stable.

FINCOVER® does not charge any money from the customers. Their main revenue source is the fees that they receive from the banking/insurance partners for every transaction on their sites.


FINCOVER® is a fintech startup based in Chennai existing from 2020. It is a one-stop platform for all things related to finance leveraging the power of technology.

Their mission is to provide every customer with an affordable and seamless digital premium financing experience and ensure they become financially empowered.

FINCOVER® provides a platform that enables the user to search and locate the best financial products suited to their needs and wants. They have partnered with India’s leading insurers (23 insurance), 50+ banks and NBFCs, and 35+ mutual fund companies to distribute their products. Within a year from inception, they have disbursed more than Rs. 150 crore secured and unsecured loan amounts from various banks and NBFCs in the last financial year and over 10000+ insurance policies.

The company is targeting a 5X growth in the upcoming year and aims to cross Rs. 500 crore in annualized disbursal run rate. Point of Sales persons (PoSP) can use their App or Web portal to assist customers in their financial needs. For more information, visit



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