InsuranceDekho, India’s top insurtech firm, has raised $60 million in its Series B funding round, marking a significant milestone. The capital infusion, a mix of equity and debt, has attracted new investors and reaffirmed existing investor confidence. This marks the second fundraise in 2023, bringing the total to $200M+, solidifying InsuranceDekho’s position as the leading Indian insurtech.
Japanese giant Mitsubishi UFJ Financial Group, Inc. (“MUFG”), BNP Paribas Cardif, Eurazeo’s Insurtech fund, India-focused Beams Fintech Fund, and Yogesh Mahansaria Family Office have joined as new investors in the insurance industry. InsuranceDekho secured $150 million in the largest Series A funding raised by an insurtech in South Asia, with existing investors TVS Capital, Goldman Sachs Asset Management, and Avataar Ventures also investing.
Ankit Agrawal, CEO and founder of InsuranceDekho said, “The insurance sector in India is at the cusp of a tech-backed revolution and I believe InsuranceDekho is well positioned as one of the pioneers leading this transformation.”The Insurtech player plans to use the funding to improve marketing, expand India distribution, scale up its tech platform, explore inorganic growth opportunities, and launch new initiatives like Reinsurance.
