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Stock impact report

Indian insurtech start-up InsuranceDekho lands $70m investment [Yahoo! Finance]

Mitsubishi UFJ Financial Group, Inc. (MUFG) 
Company Research Source: Yahoo! Finance
The capital injection will be used to bolster the company's technology-driven services, expand its market reach and solidify its position in the insurance sector. The funding round was jointly led by Japanese conglomerate Mitsubishi UFJ Financial Group (MUFG), insurer BNP Paribas Cardif and Beams Fintech Fund, a private equity fund, the Economic Times reported. All three of the investors were part of the company's Series B round in October 2023, which raised $60m. InsuranceDekho's founder and CEO Ankit Agrawal told the news publication that the company is currently in talks to raise an additional $15–20m, and anticipates the participation of a new external investor in this round. Agrawal added: “The fact that in this market, we have been able to raise around Rs6bn, backed by existing investors at a slight premium to the last round, shows the validation people have in our business.” Since its inception in 2017, InsuranceDekho has utilised AI technology and an agent-led model Show less Read more
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