Acko, a Bangalore based insurtech player, has now secured $60 million in funding round backed by the Munich Re Ventures, with participation from existing investors RPS Ventures, Amazon, and Intact Ventures Inc.
Acko as of now has plans to use the new funds to accelerate its growth in existing lines and expansion into new product lines.
Varun Dua, Founder and CEO, ACKO, said:
“Munich Re has been a strategic partner to ACKO since inception, and we are really excited to bring them on board as our investor. As one of the largest reinsurance companies globally, their investment shows confidence in our data and technology-driven business model. This confidence is further reinforced by the continued support of our existing investors, Amazon, Intact and RPS Ventures.”