InsurTech firm RenewBuy on Thursday said it has raised USD 40 million (around Rs 332 crore) in a funding round from Japanese insurance major Dai-ichi Life Holdings Inc. It is part of the company's ongoing Series D fund raise, which is attracting interest from several marquee investors and is expected to close soon, RenewBuy said in a statement. RenewBuy's technology is used by more than 1,00,000 advisors across life, health and motor insurance firms to compare product features and prices before issuing policies on the spot, it said. The company works with more than 40 insurers and has more than 5 million consumers, it added.
RenewBuy said it now has the opportunity to expand its tech platform into 11 countries
Insurtech company RenewBuy is planning to come up with its IPO in about two years from now, banking on healthy growth of business and a strong pedigree, its CEO and co-founder Balachander Sekhar said.
The insurance aggregator collects agents to renew insurance policies with a click