InsuranceDekho Raises $70M in Funding as Beams Fintech Fund Boosts Investment Commitment

InsuranceDekho Raises $70M in Funding as Beams Fintech Fund Boosts Investment Commitment

Beams Fintech Fund, a leading private equity firm specializing in the growth of FinTech and financial services, has recently announced its involvement in a significant funding round worth $70 million for its portfolio company, InsuranceDekho. This investment round was co-led by Beams Fintech Fund, along with Japan’s Mitsubishi UFJ Financial Group (MUFG) and BNP Paribas Cardif, which contributed through its InsurTech fund managed by the European investment firm, Eurazeo.

InsuranceDekho: Revolutionizing Insurance Distribution in India

Founded in 2017 by Ankit Agrawal, InsuranceDekho has rapidly emerged as one of India’s premier InsurTech platforms. The company is dedicated to transforming the insurance landscape in India by making insurance products more accessible through AI-driven technology. This innovation simplifies the buying process, policy management, and claims handling.

Key Achievements of InsuranceDekho

  • Over 10.2 million customers served across India
  • Issuance of 21 new policies every minute
  • Extensive coverage across 99% of India’s pin codes
  • Partnership with 220,000 distributors
  • Offering more than 720 insurance products including motor, health, life, and corporate insurance
  • Collaboration with 49 insurance providers to create a comprehensive marketplace

Support from Beams Fintech Fund

Sagar Agarvwal, founder and partner at Beams Fintech Fund, expressed strong confidence in InsuranceDekho’s vision and growth trajectory. He stated, “We have been strong believers in InsuranceDekho’s vision since our initial investment. Their phenomenal growth and robust distribution network make them a formidable player in the industry.”

Agarvwal further emphasized the expertise and execution capabilities of the management team at InsuranceDekho, reinforcing the firm’s commitment to supporting the company’s ongoing growth and potential in redefining insurance distribution in India.

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Future Prospects and Investments

Ankit Agrawal, the founder and CEO of InsuranceDekho, also shared his enthusiasm regarding the recent funding. He noted, “The support from Beams Fintech Fund, Eurazeo, and MUFG will enable us to broaden our reach and enhance our technology-driven offerings. We are well-positioned to lead the next wave of insurance adoption in India.”

This funding marks Beams Fintech Fund’s second investment in 2025. Earlier this year, the firm committed INR 200 crore to a pre-IPO opportunity with one of India’s largest unlisted non-banking financial companies (NBFC) focusing on financing used commercial vehicles, which is anticipated to go public in June 2025. Furthermore, Beams Fintech Fund is nearing the completion of a third investment aimed at a leading entity in the micro-loan against property (micro-LAP) sector, further deepening its focus on India’s expanding financial services landscape.

For more information on the evolving landscape of InsurTech in India, visit Finextra.

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