InsuranceDekho plans $250M IPO in India
What's the story
InsuranceDekho, a Gurugram-based insurtech start-up, is reportedly planning an initial public offering (IPO) in India. The company hopes to raise up to $250 million through a combination of new share issuance and secondary sales by existing investors. The listing could happen later this year as the company prepares for it while keeping an eye on market conditions.
Business strategy
What does InsuranceDekho do?
Founded in 2016, InsuranceDekho provides a platform for users to compare and buy various insurance policies such as motor, health, life, travel, and MSME. The company operates on a hybrid B2B2C model with more than 150,000 point-of-sale partners across India. It also uses AI technology to provide quick quotes and process claims efficiently.
Information
Recent developments and funding history
InsuranceDekho has raised around $358 million from investors such as TVS Capital Funds, Investcorp, and BNP Paribas Cardif. The company also launched its own SaaS platform called Heph last year. InsuranceDekho announced a merger with RenewBuy under Artivatic Data Labs.