Private Equity Fund Investments
Digit Insurance to raise $200-M from Faering, Sequoia India, IIFL VC
Bengaluru-based digital insurance startup Digit Insurance is raising USD 200 million from existing investor Faering Capital and new investors Sequoia Capital India and IIFL VC. Post funding, Digit's valuation will almost double to USD 3.5 billion from USD 1.9 billion previously. Digit had raised USD 18.5 million from existing investors including Faering, A91 Partners and TVS Capital in January. The latest valuation makes it India's third most valuable fintech, surpassing payments provider Razorpay and Pine Labs, which were valued at USD 3 billion each earlier this year.
From the Venture Intelligence PE-VC Deal Database: Between Feb-17 and Jan-21, Digit raised over $231-M from A91 Partners, Faering Capital, TVS Capital and Fairfax Holdings. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
Want to receive such news items in your inbox? Click Here to sign up for a trial.
