Private Equity

PE Fund Investments

Digital insurance co Acko in talks with Prosus, others to raise funds at $2.3 B valuation

Entrackr  

Digital insurance company Acko is in late-stage talks to raise funds from new and existing investors with over 2X premium in its valuation. The company is expected to be valued in the range of USD 2-2.3 Billion. Prosus is expected to lead the round with over USD 200 million. Acko sells directly to consumers, eliminating the middlemen cost. The company launched individual and group health insurance products early this year. Acko also partnered with Amazon, Ola, MakeMyTrip, Zomato, OYO, and RedBus to offer products such as trip insurance, electronics cover and hotel-stay insurance. It claims to have notched up over 70 million customers.

From the Venture Intelligence PE-VC Deal Database: Between Nov 16 and Oct 21, Acko had raised over USD 462 M from Munich Re Ventures, General Atlantic, Intact Ventures, RPS Ventures and others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)