InsuranceDekho, an Indian insurance company, has raised a whopping $150 million in a Series A funding round.
Led by Goldman Sachs Asset Management and TVS Capital Funds, the equity round was participated by Investcorp, Avataar Ventures, and LeapFrog Investments. The fund will be used to scale up the product and technology functions of the company, expand to new markets, launch innovative products in health and life categories, develop its MSME insurance business, strengthen its leadership team, and explore inorganic growth opportunities.
TVS Capital Funds co-led the equity and debt financing, making this the largest-ever Series A round for an Indian insurance technology company. The investment round will help the company grow its business with small and medium enterprises, and also help the global venture capital market to finance amidst the current difficult times.
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