InsuranceDekho is an online insurance platform that enables its users to compare different insurance plans for health and life, pets, vehicles and travelling. The company makes it possible for consumers to choose the best offer according to their requirements.
InsuranceDekho has raised $60 million in a mix of debt and equity at a valuation of over $600 million in its Series B funding round. Japanese lender Mitsubishi UFJ Financial Group (MUFG), French insurer BNP Paribas Cardif, through its insurtech fund managed by European investment major Eurazeo, India–focused Beams Fintech Fund and Yogesh Mahansaria Family Office have participated in this round as new investors. Existing investors, TVS Capital, Goldman Sachs Asset Management and Avataar Ventures, also invested.
InsuranceDekho, Gurgaon, India, was founded in 2016 by Alok Bhatnagar, Ankit Agrawal, Ish Babar, and Sanjeev Gujral. “Broadly, we will use this fund across three-to-four different areas. We will use the money for merger and acquisitions, expansion into new business lines like reinsurance, branding and investment in technology and products,” said Ankit Agrawal, CEO and founder of InsuranceDekho.