InsuranceDekho raises $150 million, the largest ever Series A funding round by an Indian insurtech firm

 

Founded in 2016 by Ankit Agarwal and Ish Babbar, InsuranceDekho has witnessed significant premium growth since its inception. InsureTech aims to achieve an annual premium run rate of ₹3,500 crore by March 2023.

India's leading insuretech company, InsuranceDekho on Tuesday raised $150 million in a funding round in a mix of equity and debt. This will be the largest ever Series A round by an Indian insurtech company. Goldman Sachs Asset Management and TVS Capital Funds led the equity round.

Additionally, Investcorp, Avatar Ventures, and LeapFrog Investments also participated in the funding round. Meanwhile, Haitong Securities India acted as the sole financial advisor to the fundraise.

In a statement, InsuranceDekho has raised the latest funding to enhance its product and technology operations, expand into new markets, launch new innovative products across health and life categories, grow the company's Micro, Small and Medium Enterprises (MSME) insurance portfolio. declared to use. business, strengthen your leadership team and pursue inorganic growth opportunities.

Ish Babbar, CTO and Co-Founder, InsuranceDekho said, the funding will enable us to deploy scalable insurtech solutions in the areas of data analytics, artificial intelligence, last-mile servicing and claims management, while keeping the customer at the core of everything There will be experience. ,

Founded in 2016 by Ankit Agarwal and Ish Babbar, InsuranceDekho has witnessed significant premium growth since its inception. InsureTech aims to achieve an annual premium run rate of ₹3,500 crore by March 2023.

Commenting on the fundraising, Amit Jain, CEO and Co-Founder, CarDekho Group, said, “It is heartening to see that under Ankit's leadership, InsuranceDekho has come a long way as it builds on its unmatched unit economics in the insurtech space in India. continues to create disruption by leveraging innovation, best technology, unprecedented partner practices, and innovation to set new benchmarks in stakeholder experience."

Rajat Sood, Managing Director, Goldman Sachs Asset Management, said, “InsuranceDekho has demonstrated a proven ability to bring new-to-insurance channel partners onto their platform, while empowering them through technology-driven solutions and helping insurers worked closely with.

Sood added that Goldman Sachs AMC looks forward to supporting the management team in its expansion to leverage its global domain expertise and provide wider coverage and more solutions.