Insurance player Acko raises $65 million in Series C funding
13 March 2019 9:31 AM GMT
Binny Bansal also participated in the funding round.
- Non-life insurance company Acko has raised $65 million in its Series C financing round from Binny Bansal, co-founder of Flipkart; RPS Ventures, led by Kabir Misra, ex-managing partner at SoftBank; and Intact Ventures Inc. – corporate venture arm of Canada's largest property and casualty insurer.
- It also offers small ticket insurance products such as rider insurance, mobile and appliance protection, ticket cancellation etc in partnership with more than 15 players in the internet ecosystem such as Ola, Amazon, redBus, Zomato and UrbanClap.
- Jet Airways grounds 5 more planes due to rental default The insurer, that has completed 12 months of operations, has distributed insurance policies to over 20 million customers.
- With this latest round of Series C funding, Acko’s total funds raised stands at $107 million.