Acko which is a Digital Insurer has now secured $65 Million, led by the Binny Bansal, Intact Ventures, RPS Ventures, and Canadian Insurance Firm.
Bansal has invested in the Acko with $25 Million in his personal capacity. This is the Binny Bansal largest investment from personal capacity.
This funding round also saw the participation from some of the existing investors which include the SAIF Partners, Accel Partners, TechPro Ventures and Amazon which is valuing the company to be around $250-$300 Million.
The company works across the two verticals that are bike and car insurance which it sells directly to the consumers and as well as co-creating products and solutions which even cater to the new internet companies.
Without specifically commenting on the size of the financing round, Varun Dua, founder, and CEO, Acko said, “Insurance is a capital intensive business. We want to be a big insurer with a strong balance sheet and also invest in growth and technology. We will be accessing more capital soon. However, we might need to go through some regulatory approvals for this additional capital and the right time we will do the same.
Picture Credits: Acko
