Investors including Japanese giant Mitsubishi UFJ Financial Group Inc. and insurer BNP Paribas Cardif participated in the funding round, InsuranceDekho said in a statement. The company’s names means “look for insurance” in Hindi.
“We will use this money for M&A opportunities, to build a strong tech product team, for branding and we’re going to use it to open new business lines like getting into reinsurance,” Ankit Agrawal, the founder and chief executive officer of InsuranceDekho, said in an interview.
Existing investors including TVS Capital and Goldman Sachs Asset Management were also involved in the funding round.
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