Fintech

Acko trades slow and steady motor for health insurance rocket fuel

Pratik Bhakta

October 20, 2022 | 10 Min Read

Moving away from its D2C strategy for motor insurance, Acko is doubling down on group health policies through the traditional route of brokers. While this boosts Acko’s topline numbers, it could also expose the company to a high-claims business.

Since the inception of Acko, its founder Varun Dua has never struggled to convince investors of insurtech’s potential. The marriage of tech with insurance, taking the sector into the digital age, was enough to secure a $30 million seed round in 2016.

In 2021, investors still found Acko’s story compelling. The company raised its biggest funding round yet. Led by private equity firms General Atlantic and Multiples, the $255 million round saw the company valued at $1.1 billion.

The CapTable understands that Acko is currently stitching together an internal round led by General Atlantic, and has received a commitment of $100 million from its existing investors. This is being done after PayU backed out from leading a major round in the insurtech startup.

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