BimaPe shuts down, will now focus on new platform Verak

BimaPe, a Mumbai-based insurtech startup, has rebranded itself as Verak. Its founder and CEO Rahul Mathur announced the development on Twitter.

“BimaPe is shutting down. We’ve had an incredible 10 months building the Wallet product – we had the privilege of speaking with 500+ users, maintained an organic 30% MoM growth rate for 6+ months and built some industry first features,” Mathur said in a Twitter post.