Mumbai: The new age of Acko has become the 34th Unicorn (worth more than $ 1 billion) this year after the closing round of the $ 255 million series, which values the company of $ 1.1 billion.
The round is currently led by General Atlantic and also includes the participation of the CSPIB of Canada’s largest pension funds and Lightspeed growth and existing investors and Munich returns.
The total ACKO funds raised until now reaching $ 450 million.
Previously, insurance companies had collected capital from Amazon, Accel, Elevation, Capital Capital, Intact Ventures, Munich Re-Ventures and Binny Bansal Binny Bansal Co-Founders, among others.
“We are interested in investors who run regulated businesses or partners for companies that run a regulated business.
Both General Pension Atlantic and Canada have investments in regulated financial services,” said Founder of ACKO & CEO Varun Dua.
“Most of these investments will make the vertical arbiter of our health insurance.
Almost half of the capital might end with a focus on the health insurance side.” Acko has the largest market share in embedded insurance products such as mobility & gadget insurance on large digital consumer platforms such as Amazon, Makemytrip , Ola, urban companies and Bajaj Finance.
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