InsuranceDekho, an insurtech company, has raised $70 million in a funding round co-led by Beams Fintech Fund, a growth-stage private equity fund focused on the Fintech and Financial Services sector, Japan’s Mitsubishi UFJ Financial Group (MUFG), and insurer BNP Paribas Cardif through its insurtech fund managed by European investment major Eurazeo.
Ankit Agrawal, Founder & CEO of InsuranceDekho, said, “We are delighted to have Beams Fintech Fund, Eurazeo, and MUFG double down on their support. 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.”
Sagar Agarvwal, Founder & Partner at Beams Fintech Fund, said, “We have been strong believers of InsuranceDekho’s vision since our initial investment. Their phenomenal growth, robust distribution network, and relentless focus on technology-driven accessibility make them a clear industry force. We have strong conviction in Ankit and the entire InsuranceDekho management team. Their expertise, speed and execution capabilities continue to propel the company forward. This follow-on investment reaffirms our belief in their potential to scale further and redefine insurance distribution landscape in India.”
Founded in 2017 by Ankit Agrawal, InsuranceDekho is an insurtech platform that leverages AI-driven technologies to simplify buying, selling, and claims.
To date, InsuranceDekho has served over 10.2 million customers nationwide, with 21 new policies issued every minute on its platform.
Headquartered in Gurugram, India, InsuranceDekho has achieved a footprint across 99% of the country’s pin codes, supported by a network of 220 K partners offering 720+ insurance products across categories such as Motor, Health, Life, and Corporate Business. The platform partners with 49 insurance companies, making it one of the most extensive insurance marketplaces in India.
