Binny Bansal, others lead $65 million funding in Acko
Acko received one of India?s biggest seed rounds at the time, when in 2017 it raised $30 million�.Existing investors, including Amazon, Accel Partners and SAIF Partners also participated in the round
- Mumbai: Online insurer Acko General Insurance Ltd Tuesday said it has raised $65 million in a round led by Flipkart co-founder Binny Bansal and a fund led by former SoftBank managing partner Kabir Misra .
- Apart from Bansal and Misra, the other new investor was Intact Ventures, the corporate venture arm of Canada’s largest property and casualty insurer Intact Insurance.
- Online insurer Turtlemint, which provides a technology platform for insurance agents to sell products, raised $25 million led by Sequoia Capital in January this year, while according to an Economic Times report, online insurance aggregator Coverfox is looking to raise up to $50 million.
- However, the online insurance pack is led by SoftBank-backed Policybazaar, which helps compare and buy various types of insurance products.