Total amount raised
$284.1 Millions
Latest funding date
1/1/2025
Location
InsuranceDekho has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a comprehensive range of insurance products, including health, life, term, car, and bike insurance.
Keep reading to explore the intricacies of InsuranceDekho's fundraising journey and the investors backing this innovative platform.
What Is InsuranceDekho?
InsuranceDekho, founded in 2016 by Ankit Agrawal and Ish Babbar, is an insurtech platform based in Haryana, India. The company specializes in facilitating the comparison and purchase of various insurance products, including health, life, term, car, and bike insurance.
With a workforce of 1001-5000 employees, InsuranceDekho aims to simplify the insurance process by allowing users to select policies, compare quotes, and complete transactions online. The platform offers a comprehensive range of insurance options, making it easier for customers to find the best policies to suit their needs.
For more detailed information, you can visit their Crunchbase profile or their official website.
How Much Funding Has InsuranceDekho Raised?
- Series A
- Amount Raised: $150M
- Date: January 2023
- Lead Investors: Goldman Sachs, TVS Capital Funds
- Valuation at Round: $600M
- Motivation Behind the Round: To scale operations and enhance technological infrastructure.
- Debt Financing
- Amount Raised: $40M
- Date: February 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational needs and growth.
- Series B
- Amount Raised: $60M
- Date: October 2023
- Lead Investors: Beams FinTech Fund, Eurazeo, Mitsubishi UFJ Financial Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To bolster technological capabilities, marketing efforts, and reinsurance initiatives.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: October 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational needs and growth.
- Venture Round
- Amount Raised: ₹1.2B
- Date: January 2025
- Lead Investors: C. Development
- Valuation at Round: Between $750M and $800M
- Motivation Behind the Round: To continue expansion, innovate in the insurtech space, and set the stage for future growth.
Total amount raised: $300M
Current valuation: Between $750M and $800M
Key Investors
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. It provides a wide range of financial services to a substantial and diversified client base.
- Investment Focus Areas: Financial services, technology, healthcare.
- Notable Investments: Uber, Spotify, WeWork.
- MUFG Bank
- Details: MUFG Bank is Japan's largest bank and one of the world's leading financial groups. It offers comprehensive financial services including commercial banking, trust banking, securities, credit cards, and consumer finance.
- Investment Focus Areas: Financial services, technology, infrastructure.
- Notable Investments: Grab, Morgan Stanley, Bank Danamon.
- TVS Capital Funds
- Details: TVS Capital Funds is a private equity firm that focuses on investing in mid-market companies in India. It aims to support businesses in scaling up and achieving sustainable growth.
- Investment Focus Areas: Financial services, consumer products, technology.
- Notable Investments: Nykaa, Go Digit, RBL Bank.
- Beams FinTech Fund
- Details: Beams FinTech Fund is a venture capital fund that focuses on investing in fintech startups. It aims to support innovative financial technology companies in their growth stages.
- Investment Focus Areas: Fintech, financial services, technology.
- Notable Investments: Razorpay, Pine Labs, ZestMoney.
- C. Development
- Details: C. Development is a French limited partnership associated with BNP Paribas Cardif. It focuses on strategic investments in high-growth companies.
- Investment Focus Areas: Insurance, financial services, technology.
- Notable Investments: Not publicly disclosed.
What's Next for InsuranceDekho?
InsuranceDekho stands at the cusp of significant growth opportunities, driven by its recent funding rounds and the booming insurtech market. With a robust network of 150,000 agents and a customer base exceeding 9 million, the company is well-positioned to expand its digital insurance solutions and product offerings. The fresh capital infusion will enable InsuranceDekho to enhance its technology, scale operations, and explore new markets, potentially increasing its market share in the rapidly evolving insurance sector.
Future fundraising opportunities appear promising, especially with the company's plans for an IPO. The successful funding rounds led by prominent investors like MUFG Bank and C. Development signal strong investor confidence, which could attract further investments. However, InsuranceDekho may face challenges such as intense competition, regulatory hurdles, and the need to maintain profitability while scaling. Navigating these challenges will be crucial for sustaining its growth trajectory and achieving long-term success.
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