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Total amount raised
$144M
Latest funding date
2025-06-20
Location
RenewBuy has successfully raised funds over 10 rounds, with the latest investment coming from a Venture - Series Unknown round. The company is backed by notable investors, including 360 ONE Asset and Apis Partners.
Keep reading to explore the intricacies of RenewBuy's fundraising journey and the investors backing this innovative platform.
RenewBuy has raised funding across multiple rounds backed by investors including Apis Partners, Dai-ichi Life Holdings, Lok Capital, 360 One, Stride Ventures, InnoVen Capital, Amicus Capital, Evolvence India Fund, and Mount Nathan Advisors.
Keep reading to explore RenewBuy's fundraising journey, key investors, and what's next for this Indian insurtech platform.
What Is RenewBuy?
RenewBuy is a Gurugram, India-based InsurTech company founded in 2015 by Balachander Sekhar and Indraneel Chatterjee. The platform provides Health, Life, and Motor Insurance products through a trusted network of insurance advisors, offering a fully digital, paperless experience covering buying, renewals, and claims servicing. RenewBuy operates across 800+ cities and towns in India, with over 120,000 insurance advisors and 5 million+ consumers insured.
How Much Funding Has RenewBuy Raised?
- Angel Round
- Amount Raised: USD 500,000
- Date: November 2015
- Lead Investors: Mount Nathan Advisors
- Angel Round
- Amount Raised: USD 1,000,000
- Date: April 2016
- Lead Investors: Mount Nathan Advisors
- Series A
- Amount Raised: USD 9,200,000 (INR 60 crore)
- Date: October 2017
- Lead Investors: Amicus Capital
- Series B
- Amount Raised: USD 19,000,000 (INR 130 crore)
- Date: July 2019
- Lead Investors: Lok Capital, IIFL AMC (360 One)
- Participants: Amicus Capital (existing investor)
- Series C
- Amount Raised: USD 45,000,000
- Date: June 2021
- Lead Investors: Apis Growth Fund II (Apis Partners)
- Series C (extension)
- Amount Raised: USD 10,000,000
- Date: August 2021
- Lead Investors: Evolvence India Fund
- Series C (further extension)
- Amount Raised: USD 1,250,000 (INR ~8.4 crore)
- Date: March 2022
- Lead Investors: Sanjay Khare, Perfect Homfin
- Venture Debt
- Amount Raised: USD 8,500,000 (INR 68 crore; via NCDs and CCPS)
- Date: November 2022
- Lead Investors: Stride Ventures, InnoVen Capital
- Series D
- Amount Raised: USD 40,000,000
- Date: July 2023
- Lead Investors: Dai-ichi Life Holdings (Japan)
- Valuation at Round: ~USD 364,000,000
- Private Equity / Series Unknown
- Amount Raised: USD 10,000,000 (INR ~86 crore)
- Date: June 2025
- Lead Investors: Apis Partners, 360 One (IIFL Wealth)
- Participants: Gaurav Deepak, Gauri Taneja, Sanjay Kaul, Derrik Roshan Dsouza (individual investors)
Total Amount Raised: At least USD 144,450,000 based on disclosed funding across all rounds.
Key Investors
- Apis Partners
- Details: A UK-based asset manager focused on growth-stage financial services and fintech. Apis led RenewBuy's Series C round ($45M, June 2021) and has continued investing through the June 2025 round. Apis Partners is one of RenewBuy's most prominent long-term backers.
- Dai-ichi Life Holdings
- Details: A major Japanese insurance company that led RenewBuy's Series D round in July 2023 with a $40M investment, acquiring approximately 11% stake at a valuation of ~$364M.
- Lok Capital
- Details: An impact-focused venture capital firm that led RenewBuy's Series B round in July 2019 alongside IIFL AMC.
- 360 One (formerly IIFL Wealth / IIFL AMC)
- Details: A leading Indian wealth management firm that has participated in RenewBuy's Series B and the June 2025 funding round.
- Amicus Capital
- Details: A Bengaluru-based mid-market growth capital fund that led RenewBuy's Series A round ($9.2M, October 2017) and participated in Series B.
- Stride Ventures & InnoVen Capital
- Details: Indian venture debt firms that co-invested Rs 34 crore each in RenewBuy's November 2022 debt round ($8.5M total).
- Evolvence India Fund
- Details: Joined RenewBuy's cap table in August 2021 by contributing $10M to close the Series C round at $55M total.
- Mount Nathan Advisors
- Details: Singapore-based principal investment and advisory firm that led RenewBuy's earliest angel funding rounds in 2015 and 2016.
What's Next for RenewBuy?
RenewBuy is currently undergoing a significant transformation as it moves toward a potential merger with InsuranceDekho, pending regulatory approval from IRDAI. The $10M raised in June 2025 is intended to support operations and business development during this transition period. With a growing network of over 120,000 insurance advisors, a strong backer base, and deep penetration into Tier 3 and Tier 4 Indian markets, RenewBuy is well-positioned to consolidate its role in the digital insurance landscape — whether as an independent entity or as part of a combined platform with InsuranceDekho.
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