InsuranceDekho to get USD 20 million funding from GirnarSoft

InsuranceDekho (an omni channel insurance platform and a subsidiary of GirnarSoft) announces that GirnarSoft has committed US$ 20 million (~Rs 147 crore) investment in the company.

InsuranceDekho stated that the funds will be invested in branding, and strengthening the technology, product and sales teams.

The funds will also be used to strengthen InsuranceDekho's transaction businesses and expand its footprint in the country. Recently, InsuranceDekho announced plans to incorporate 1 lakh insurance advisors across the country. The company stated that it has enrolled ~20,000 advisors successfully.

Mr Amit Jain, CEO and co-founder of GirnarSoft said, "This proposed fund infusion is our vote of confidence in their ability to build India's most enduring insuretech business in India". The other ventures of GirnarSoft include CarDekho.com, Zigwheels.com and gaadi.com.

Mr Ankit Agrawal, CEO and co-founder, InsuranceDekho, stated, "This new capital infusion will be used to expand our digital footprint. We are already a force to reckon with in the B2B space. With this round we aim to invest in branding and marketing to further strengthen our B2C platform which has been seeing strong traction over the last 2 quarters."

InsuranceDekho allows consumers to compare various insurance plans, both online and offline, and has tie-ups with over 26 general insurance providers. The company is currently at an annualised run rate of 20 lakh policies and plans to close March 2021 at an annualised run rate of 36 lakh policies, it said.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.