The Gurugram-based InsuranceDekho helps users compare insurance quotes from various insurance companies before buying the best-suiting one.
India-based online insurance platform InsuranceDekho has raised $150 million in a Series A funding round comprising a mix of debt and equity. Goldman Sachs Asset Management and TVS Capital led the funding round.
“We at InsuranceDekho are happy to announce that we have taken a giant leap forward and successfully raised $150 million in the biggest Series A funding round in South East Asia!,” the company said in a LinkedIn post.
“We are grateful to our investors Goldman Sachs and TVS Capital Funds for leading our round along with Investcorp, Avataar Ventures, and LeapFrog Investments and for trusting in our vision to redefine “How India buys Insurance,” it added.
The insurance startup plans to deploy funds to scale up its product, launch new ones in the health and life categories, grow its micro, small, and medium enterprise insurance business, tap new markets, and pursue inorganic growth among others. The company has not revealed its valuation post the funding. However, TechCrunch reported that the Series A funding values InsuranceDelho between $475 million to $500 million.
The Gurugram-based company helps users compare insurance quotes from various insurance companies and purchase the policy that best suits their needs. InsuranceDekho offers various types of insurance including that of car, bike, health, and even pet. The TechCrunch report, citing the company’s co-founder Ankit Agrawal, noted that Insurance Dekho has marked its presence in about 98% of all zip codes in the country and is selling over 80% of all its coverage in smaller cities in India.
