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Acko General Insurance Ltd. seeks new funds at $1B valuation

acko general insurance funding

Acko General Insurance Ltd. is considering a fresh funding round that could value the company at over $1 billion, people familiar with the development revealed. 

The Amazon.com Inc.-backed startup is expecting to raise around $200 million in the round, stated individuals, who requested not to be named as the information is confidential. Acko is also contemplating a posting this year, one of the individuals cited above said. 

If the subsidizing round is successful, Acko will become the latest entrant in the unicorn club in India. In April, the country recorded six new businesses with a valuation of at least $1 billion in seven days. 

Acko, founded in 2016, is one of the country’s first digital guarantors that provides inclusion to vehicles, motorbikes, and even taxi commuters just as health care coverage, according to its website. It has over 400 representatives and has offered solutions to more than 50 million clients. Apart from Amazon, the startup counts Accel, Catamaran Ventures, and SAIF Partners among its financial backers. 

The Bangalore-based startup raised $60 million in a Series D financing round last year.

Considerations are constant and Acko’s latest plans to raise money could change, individuals stated. 

Acko appears to be a great insurance platform that not only provides hassle-free and quick services but is also striving towards inclusivity. The company seems to have great prospects to grow and lead the industy. My best wishes to the team of Acko.

Shishir Gupta, Founder and CEO, StartupLanes

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