The investment will support InsuranceDekho’s continued growth and expansion within India’s rapidly evolving insurance market. Beams Fintech Fund, a growth-stage private equity fund focused on the Fintech and Financial Services sector, has made a follow-on investment in the company.
Founded in 2017 by Ankit Agrawal, InsuranceDekho has established itself as a major player in India’s insurtech space, leveraging AI-driven technologies to simplify insurance distribution. The platform aims to democratize insurance accessibility, streamlining the buying, selling, and claims process for millions of customers.
InsuranceDekho has served over 10.2 million customers nationwide, with 21 new policies issued per minute on its platform. The company, headquartered in Gurugram, has a nationwide footprint, covering 99% of India’s pin codes, and a network of 220,000 partners. It offers over 720 insurance products across various categories, partnering with 49 insurance companies to create an extensive insurance marketplace.
Sagar Agarvwal, Founder & Partner at Beams Fintech Fund, commented on the investment: “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.”
Ankit Agrawal, Founder & CEO of InsuranceDekho, added: “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.”
