CarDekho's InsuranceDekho raises $150M in a mix of equity & debt

CarDekho's insurance arm InsuranceDekho has raised $150 million in a Series A round, a mix of equity and debt, led by TVS Capital, Goldman Sachs Asset Management, Investcorp, Avataar Ventures, and LeapFrog Investments.

The company claims that it is the largest series A round ever raised by an Indian insurtech firm.

InsuranceDekho plans to use the raised capital to scale up its product and technology functions, expand to new markets, pursue inorganic growth, strengthen its leadership team, launch new innovative products in the health and life categories, and grow the company’s MSME insurance business.

Founded in 2016 by Ankit Agrawal and Ish Babbar, InsuranceDekho initially started as a platform to help customers buy motor and health insurance. The platform now allows consumers to compare different insurance policies and choose the most suitable plan. It has partnered with 46 insurance companies so far, with more than 380 plans on its platform

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