Mumbai-based insurance innovation beginning-up Acko General Insurance, a first digital platform that exclusively provides two-wheeler and four-wheeler insurance, has earned $16 million in Ascent Capital.
In the meantime, many reports indicate that the company has also spent $20 million in Binny Bansal, former CEO of Flipkart. This, however, is not yet officially confirmed.
Begun in 2016 by Varun Dua, a serial entrepreneur in the field of fin-tech, Acko believes to be a new age supplier of online insurance policies, offering all its facilities through the online platform.
The business has received the Golden Peacock Trophy for creative products and services, as well as was also displayed on the Indian list of top 25 start-ups in Business Today's Coolest Start-ups List and LinkedIn.
IRDAI Acko also carries an IRDAI license. Acko is one of two Indian start-ups (the other is Digit Insurance based in Bengaluru) to hold an IRDAI license, an independent body that governs and monitors insurance firms in India.
The company believes to have delivered insurance policies in just one year of launching operations to more than 20 million special clients.
Partners The start-up has collaborated with giants such as Amazon, and Zomato Acko also provides micro-insurance products such as mobile insurance, travel insurance, and insurance.
The company has affiliated with multiple cab aggregators and online shopping giants like Amazon, Zomato, Ola, etc.
It was also supported by Catamaran Ventures, Accel Partners, Binny Bansal, and others from Narayan Murthy.
Data In the meantime, Acko had earned $65 million in a Series C round in March this year in which Bansal alone had made investments $25 million, here's a look at previous investments in Acko before this round. And, with this investment being included, the company's overall capital increasesd is around $123 million.
Tags : atamaran Ventures, Accel Partners, Binny Bansal, Flipkart,