ACKO raises $60 million from Munich Re and other existing investors

Digital insurer, ACKO General Insurance, has raised $60 million in funding from investors led by Munich Re Ventures, along with participation from its other existing investors such as Amazon, RPS Ventures and Intact Ventures Inc. The amount raised will be used to accelerate the company’s growth in existing lines and expansion into new product lines.

The digital insurance company had raised around $36 million last year from Binny Bansal and Ascent Capital. Since its inception four years ago, it has raised around $200 million from various investors. Avendus Capital was the advisor to ACKO on this fundraise.

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