India-Primarily based Insurtech ACKO Secures $60 Million By means of Newest Funding Spherical Led By Munich Re Ventures

ACKO, a India-based insurtech startup, introduced this week it secured $60 million by way of its newest funding spherical, which was led by Munich Re Ventures.

Based in 2016, ACKO claims it’s India’s first and fastest-growing InsurTech firm which makes shopping for and utilizing insurance coverage effortlessly.

“In a brief span since its inception, Acko has partnered with main tech corporations like Amazon, OYO and Ola, and is famend for its revolutionary insurance coverage merchandise.”

Talking in regards to the funding spherical, Varun Dua, Founder and CEO, ACKO, reportedly said:

“Munich Re has been a strategic companion to ACKO since inception, and we’re actually excited to carry them on board as our investor. As one of many largest reinsurance corporations globally, their funding exhibits confidence in our information and technology-driven enterprise mannequin.”

ACKO can be backed by Amazon, Accel, Catamaran Ventures, SAIF Companions, Swiss Re Transamerica Ventures, together with seasoned buyers, together with Ashish Dhawan, Kris Gopalakrishnan, Hemendra Kothari, Atul Nishar, Rajeev Gupta, Venk Krishnan, and Subba Rao. Final 12 months, ACKO raised $36 million throughout its earlier funding spherical, led by Ascent Capital.

The funding spherical’s funding will likely be used to proceed the event of ACKO’s platform.