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Beams Fintech Fund leads $70 Mn round in InsuranceDekho

EntrackrEntrackr · 7m 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.

InsuranceDekho launches $2 Mn ESOP liquidity program

EntrackrEntrackr · 14d ago
InsuranceDekho launches $2 Mn ESOP liquidity program
Medial

InsuranceDekho launches $2 Mn ESOP liquidity program Insurtech major InsuranceDekho has launched its first-ever ESOP liquidity program worth $2 million. The program allows employees to partially cash out their vested stock options. About 150 current and former employees participated in the program through a secondary sale, realizing tangible financial gains while retaining a stake in the company’s future growth. The company plans to expand its ESOP program further with new grants, ensuring employees at all levels continue to benefit as the platform scales. InsuranceDekho operates across 1,800 cities and 98% of Indian pincodes, supported by 20 offices and a network of over 2 lakh partners. The platform claims to have insured over 12,000 businesses and continues to expand its reach nationwide. It combines AI-powered technology with human expertise to deliver personalized onboarding, efficient servicing, and reliable support throughout the customer journey. Its portfolio spans motor, health, life, travel, pet, and corporate insurance, offering 650 plans from 48 insurers. Earlier in March this year, InsuranceDekho had raised a $70 million funding round co-led by Beams Fintech Fund, Japan’s Mitsubishi UFJ Financial Group (MUFG), and insurer BNP Paribas Cardif. In October 2023, the Gurugram-based firm secured $60 million in a Series B funding round led by Mitsubishi UFJ Financial Group. As per media reports, InsuranceDekho’s operating revenue surged 73.5% to Rs 1,290 crore in FY25 against Rs 743.6 crore in FY24. However, the company reported a net loss of Rs 47.5 crore during the year, compared with a net profit of Rs 85.7 crore in FY24.

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