🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Related News

From inception to evolution - here's success story of travel platform EaseMyTrip

LivemintLivemint · 1y ago
From inception to evolution - here's success story of travel platform EaseMyTrip
Medial

Online travel aggregator EaseMyTrip, the second-largest travel aggregator in India, suspended all Maldives flight bookings in support of the Indian government during the India-Maldives row in January. Founded in 2008, EaseMyTrip offers a range of travel products and services, including airline tickets, rail tickets, bus tickets, taxis, holiday packages, hotels, and travel insurance. The company recently went public, raising over ₹510 crore through an initial public offering. Co-founder Rikant Pittie discussed the company's journey and highlighted their in-house Smart Voice Recognition Technology as a competitive advantage. EaseMyTrip aims to expand globally and diversify into non-air segments while remaining committed to sustainability. The Indian travel industry is projected to contribute significantly to the country's GDP and experience growth in religious tourism.

Beams Fintech Fund leads $70 Mn round in InsuranceDekho

EntrackrEntrackr · 5m ago
Beams Fintech Fund leads $70 Mn round in InsuranceDekho
Medial

Beams Fintech Fund leads $70 Mn round in InsuranceDekho Insurtech company InsuranceDekho has raised a $70 million funding round co-led by Beams Fintech Fund, Japan’s Mitsubishi UFJ Financial Group (MUFG), and insurer BNP Paribas Cardif through its insurtech fund managed by European investment major Eurazeo. Entrackr reported on the current round two months ago. In October 2023, the Gurugram-based firm secured $60 million in a Series B funding round led by Mitsubishi UFJ Financial Group. Founded in 2017 by Ankit Agrawal, InsuranceDekho enables customers to compare and purchase insurance policies, including motor, health, travel, and pet insurance. It also provides various investment plans such as ULIP, child plans, fixed deposits, and retirement plans. The company collaborates with most insurance providers and boasts direct integration with nearly 50 companies. Additionally, InsuranceDekho is in the process of merging with RenewBuy and is awaiting regulatory approvals. “This capital will enable us to expand our reach, enhance our tech-driven offerings, and solidify our position as India’s go-to insurance platform. With our continued focus on digital transformation and customer-centric solutions, we are well-positioned to drive the next wave of insurance adoption in India,” Agrawal said in a press release. To date, InsuranceDekho claims to have served over 10.2 million customers nationwide, with 21 new policies issued every minute on its platform. It has achieved a footprint across 99% of the country’s pin codes, supported by a network of 220 K partners offering over 720 insurance products across categories such as Motor, Health, Life, and Corporate Business. According to TheKredible, InsuranceDekho managed seven-fold growth in its revenue which surged to Rs 743.6 crore in FY24 from Rs 96.5 crore in FY23. Moreover, InsuranceDekho clocked a profit of Rs 85.71 crore in the last fiscal year. This is Beams Fintech Fund's second investment in 2025, following a Rs 200 crore investment in a pre-IPO opportunity with one of India's largest unlisted NBFCs specializing in used commercial vehicle finance. The company is set to go public in June 2025.

Decoding InsuranceDekho’s back-to-back funding rounds amidst a funding winter

Economic TimesEconomic Times · 1y ago
Decoding InsuranceDekho’s back-to-back funding rounds amidst a funding winter
Medial

InsuranceDekho, an Indian online insurance marketplace, has secured a $60 million funding round, valuing the company at approximately $700 million. This funding round occurred only a year after the company raised $150 million in one of the largest series A funding rounds. Unlike other fintech startups, InsuranceDekho combines online insurance services with a strong physical operation. The company is unique in that it focuses solely on the distribution of insurance, while others pursue insurance manufacturing licenses. InsuranceDekho has around 110,000 field agents and plans to scale up to 200,000 agents by the end of FY2024, focusing on smaller cities and towns in India.

Download the medial app to read full posts, comements and news.