Liquidity Events
InsuranceDekho acquires SME insurance distribution startup Verak
Gurugram-based insurtech company InsuranceDekho, has acquired Verak (formerly BimaPe), a Mumbai-based SME insurance distribution startup. Verak aims to cover businesses of all sizes and types, with 99.5% of customers being first time buyers of business insurance. Verak aims to insure 10 Lakh businesses in India by March 2027. InsuranceDekho, which provides a platform for consumers to compare and purchase insurance policies across multiple categories, including health, bike, car, life, term, pet, and travel insurance, will now expand its portfolio in the SME insurance space. The acquisition comes just two months after InsuranceDekho raised USD 150 million in a series A round, led by TVS Capital Funds and Goldman Sachs Asset Management, among others.
From the Venture Intelligence PE-VC Deal Database: In Oct-2020, Verak had raised INR 4.5 Cr from iSeed, Lightspeed Ventures, Others.
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