Digital insurer Acko plans $300-400 million IPO
What's the story
Acko, a digital insurance technology platform backed by General Atlantic, is gearing up for an initial public offering (IPO) to raise between $300 million and $400 million. The company is currently in preliminary talks with bankers and formal pitches are expected next month. The IPO will likely be a combination of primary capital fundraising and secondary transactions where some early investors may offload their stakes.
Market trend
Acko's IPO plans align with India's growing public market
If Acko goes ahead with its IPO, it will join a host of other start-ups in India going public. The country's IPO market has already seen companies such as Meesho, Pine Labs, Groww, Physicswallah, Ather Energy, Bluestone, Urban Company and Lenskart raise a record $21 billion in 2025 alone. More than 30 companies have already received regulatory approval for their upcoming listings.
Company profile
Acko's journey and future plans
Founded by Varun Dua and Ruchi Deepak, Acko has raised over $450 million to date. Its investor base includes Amazon, Accel, Elevation Capital, Munich Re Ventures, Catamaran Ventures, RPS Ventures, Intact Ventures among others. The Bengaluru-based unicorn has served over 78 million customers and issued more than a billion insurance policies in its nine-year history. It started with auto insurance in 2016 but is now working on integrating health insurance services as well.
Business growth
Acko's market presence and financial performance
Acko already has a significant market share in embedded insurance products like mobility and gadget insurance. It has partnered with over 50 players, including redBus, Zomato, HDB Financial Services, and Urban Company. In FY2024-25, Acko reduced its consolidated net loss to ₹424 crore from ₹667 crore a year ago. Its operating revenue also increased to ₹2,836 crore from ₹2,106 crore in FY2023-24.