InsuranceDekho, India’s leading Insurtech player, has raised $60 million in its ongoing Series B funding round, marking a significant milestone for the company. With this latest capital infusion, a mix of equity and debt, the company has attracted new marquee investors to its cap table while reaffirming the confidence of existing investors. This is the second fundraise for the Gurugram-based startup in 2023, taking its total fundraise to $200M+, further solidifying its position as the leading Indian Insurtech.
Japanese giant Mitsubishi UFJ Financial Group, Inc. (“MUFG”), BNP Paribas Cardif, Eurazeo’s Insurtech fund, Beams Fintech Fund, and Yogesh Mahansaria Family Office have joined as new investors in the insurance sector. InsuranceDekho secured $150 million in the largest Series A funding raised by an insurtech in South Asia, with investors including TVS Capital, Goldman Sachs Asset Management, and Avataar Ventures.
The Insurtech player plans to use the funding to enhance marketing, expand distribution in India, scale up its tech platform, explore inorganic growth opportunities, and launch new initiatives like Reinsurance. 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.”
