Insurance Dekho raised $150 million, the largest Series A funding in India
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New Delhi: Insuretech company InsuranceDekho on Tuesday said it has raised $150 million in Series A funding led by Goldman Sachs Asset Management and TVS Capital Fund. Touted as the largest ever Series A round by an Indian insurtech company, the fresh funding, comprising a mix of equity and debt, also saw participation from Investcorp, Avatar Ventures and LeapFrog Investments. Ish Babbar, Co-Founder and CTO, 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 making customer experience everything. shall be placed at the core of.
The company said it will use the funds to enhance its product and technology operations, expand into new markets, and launch new products in the health and lifestyle categories. InsuranceDekho was launched in 2016 by automobile aggregator CarDekho. During FY2022, InsuranceDekho’s revenue is expected to grow by 61 per cent to Rs 47.91 crore from Rs 29.71 crore in FY21. The company aims to achieve a premium run rate of Rs 3,500 crore annually by March 2023. Rajat Sood, Managing Director, Goldman Sachs Asset Management, said, “InsuranceDekho has a proven ability to bring new-to-insurance channel partners onto their platform, while empowering them through technology-driven solutions and working closely with insurers InsuranceDekho is present in over 1,300 cities covering 98 per cent pin codes of the country.
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