InsuranceDekho, a leading Indian insurtech platform, has secured a $70 million funding round co-led by Beams Fintech Fund, MUFG (Mitsubishi UFJ Financial Group), and BNP Paribas Cardif. The investment aims to expand InsuranceDekho’s distribution network and enhance its AI-driven insurance solutions.
Key Details:
- Investment Purpose: To strengthen InsuranceDekho’s technology infrastructure and distribution reach.
- Market Presence: Serving 10.2 million+ customers across 99% of India’s pin codes.
- Product Portfolio: Over 720 insurance products spanning motor, health, life, and corporate policies.
- Strategic Partnerships: Collaborating with 49 insurance companies, making it one of India’s most comprehensive insurance marketplaces.
About the Founder: Ankit Agrawal
Ankit Agrawal, Founder and CEO of InsuranceDekho, launched the company in 2017 with the vision of making insurance more accessible and transparent in India. Under his leadership, InsuranceDekho has leveraged AI-powered tools to simplify insurance buying, helping millions of users make informed decisions.
Funding History:
- Current Round: $70 million led by Beams Fintech Fund, MUFG, and BNP Paribas Cardif.
- Previous Round (2023): $150 million in Series A funding, one of India's largest early-stage investments in insurtech.
This latest funding signals strong investor confidence in InsuranceDekho’s potential to disrupt and dominate the insurance distribution landscape in India.