Indian insurtech firm InsuranceDekho has raised US$60 million in a Series B funding round, its second fundraise this year following its US$150 million Series A in February.
The round, which is a mix of equity and debt, was led by Mitsubishi UFJ Financial Group (MUFG), BNP Paribas Cardif, and Beams Fintech Fund.
Existing investors TVS Capital, Goldman Sachs Asset Management, and Avataar Ventures also participated in the round.
InsuranceDekho said that it will use the funds to boost its marketing activities, expand its distribution across the country, scale up its tech platform, and explore inorganic growth.
The company said that it is on track to achieve Rs 3,600 crore (US$432,000) premium this financial year and is targeting to have 2,00,000 agent partners on its platform by March 2024.
InsuranceDekho has a presence in over 1500 regions and has served over 6 million customers to date.
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- Source: https://fintechnews.sg/78757/fintech-india/indias-insurancedekho-raises-us60m-in-second-fundraise-for-2023/
