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Investcorp invests in India’s InsuranceDekho

Private equity funds managed by Investcorp have invested in InsuranceDekho, a leading insurtech platform in India.

The Bahrain-based alternative investment firm said the investment is part of a consortium financing $150 million of growth capital in InsuranceDekho to support the growth of the company’s network, as well as the continuous development of its technology platform and brand.

InsuranceDekho was incubated inside the CarDekho Group, a leading tech-enabled automotive search platform, and then spun off as an independent business in 2018.

The company enables consumers to compare different insurance policies based on their requirements and offers them the best choices available.

It sells policies from over 46 insurers across over 1300 cities.

Ten Indians buy an insurance policy from InsuranceDekho every minute.

InsuranceDekho continues to grow at exceptional rates, with revenues growing at a compounded annual growth rate of over 100 per cent since 2019.

The company uses an omnichannel distribution strategy, where physical assistance is provided for the sale, but the entire journey is digitised, resulting in a significant reduction in time to sell and an increase in quality of service compared to traditional agents.

Investcorp’s private wealth head Yusef Al Yusef said: “Investcorp has always believed in backing disruptive changemakers. All our previous investments in India have been in companies with definitive competitive advantage that quickly gained market share on the back of excellent product and service delivery. InsuranceDekho comes from the Girnar group of companies which has created leading technology products that solved key problems for customers. Insurance is a high potential sector in India with an upside for growth. This will be rewarding in the long-term.”

In India, Investcorp is an active investor in mid-market companies across consumption-linked sectors and in the real estate business. In the private equity space, Investcorp targets opportunities across the consumer tech, healthcare, financial services, retail, SaaS, e-commerce, and technology sectors. Its investments over the last four years include V-Ensure, NDR Warehousing, Intergrow Brands,, Freshtohome, Zolo, InCred, Citykart, ASG, NephroPlus, Unilog, XpressBees, and Safari Industries.



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