InsuranceDekho, a leading player in India’s insurtech sector, has successfully raised $70 million in its latest funding round.
The investment was co-led by Beams Fintech Fund, Japan’s Mitsubishi UFJ Financial Group (MUFG), and BNP Paribas Cardif through its insurtech-focused fund, managed by European investment firm Eurazeo.
This follows InsuranceDekho’s Series B funding round in October 2023, where the Gurugram-based company secured $60 million, with MUFG as the lead investor. The fresh capital infusion will accelerate the company’s expansion, enhance its technology-driven solutions, and strengthen its leadership position in India’s digital insurance landscape.
Founded in 2017 by Ankit Agrawal, InsuranceDekho simplifies insurance buying by offering users the ability to compare and purchase policies across motor, health, travel, and pet insurance categories. Beyond traditional insurance, the platform also provides investment solutions, including ULIPs, child plans, fixed deposits, and retirement plans.
With direct integrations with nearly 50 insurance providers, InsuranceDekho has built a vast ecosystem of offerings. The company is also in the process of merging with RenewBuy, awaiting necessary regulatory clearances.
Commenting on the development, Ankit Agrawal, Founder and CEO of InsuranceDekho, highlighted the company’s vision:
“This funding enables us to further our mission of making insurance more accessible and technology-driven. As we expand our reach and enhance customer experiences, we remain focused on driving the next wave of insurance adoption in India.”
InsuranceDekho has established itself as a dominant force in India’s insurtech market. The company has served over 10.2 million customers nationwide, issuing 21 new policies every minute. With a presence across 99% of India’s pin codes, its extensive partner network of 220,000 agents offers more than 720 insurance products spanning motor, health, life, and corporate segments.
Financially, InsuranceDekho has witnessed remarkable growth. According to data from TheKredible, the company reported a sevenfold revenue increase, surging from ₹96.5 crore in FY23 to ₹743.6 crore in FY24. Additionally, the firm recorded a profit of ₹85.71 crore in the last fiscal year, reinforcing its financial strength and scalability.
For Beams Fintech Fund, this marks its second major investment in 2025. Earlier this year, the fund invested ₹200 crore in a pre-IPO opportunity with one of India’s largest unlisted NBFCs specializing in financing used commercial vehicles. The NBFC is slated to go public in June 2025, indicating Beams Fintech Fund’s strategic focus on high-growth financial services.
With this latest round, InsuranceDekho is well-positioned to redefine the insurtech landscape, making insurance more accessible, affordable, and seamless for millions of Indians. As digital transformation accelerates across financial services, the company’s robust growth trajectory signals a promising future for India’s insurance sector.
