Insurance Firm Acko May Get $25M from Binny Bansal

Acko General Insurance Co. Ltd., a Mumbai-based online startup, has now secured $25 Million from the Flipkart co-founder and former group Chief Executive Binny Bansal, according to a report.

The investment is reportedly a part of a larger financing round of $60-$80 Million. However, until now, the report has not been confirmed by the Acko founder Varun Dua and Bansal.

For the active angel investor Bansal, this would be his biggest investment so far. In May 2018, the startup raised $12 Million in a funding round, which was led by the e-commerce giant Amazon.

Registered in the month of August 2016, Acko was founded by Dua, an Alumnus of Mudra Institute of Communications, Ahmedabad (MICA). It is an independent general insurance company that offers general insurance, personalized insurance products, and automobile insurance. The services are provided with the help of its digital platform.

Acko is backed by prominent business personalities like Infosys co-founder Kris Gopalakrishnan, through Pratithi Investment Trust, Hamendra Kothari of the DSP Blackrock, Rajeev Gupta, a veteran investment banker and founder of the Arpwood Capital, Atul Nishar, the founder and Chairman of Hexaware Technologies, and Subba Rao and Venk Krishnan of NuVentures.

Picture Credits: Acko