Liquidity Events
RenewBuy to merge with InsuranceDekho in share-swap deal
Gurugram-headquartered InsuranceDekho, the insurance marketplace backed by CarDekho, is acquiring fellow Gurugram-based insurtech startup RenewBuy in a share-swap deal that will value the merged entity at INR 7,400 crore. As part of the merger, RenewBuy's investors will receive shares in InsuranceDekho in proportion to the relative valuations of the two companies. Ankit Agrawal, founder of InsuranceDekho, is expected to take over as chief executive.InsuranceDekho is valued at INR 5,400 crore while RenewBuy is valued at INR 1,800 crore. Founded in 2015, RenewBuy focuses on the digital insurance distribution business and claims to have a network of over 125,000+ advisors in over 1,500 towns across India.
Between Nov-15 and Jun-23, RenewBuy had attracted about USD 180 M from InnoVen Capital, Stride Ventures, Apis Partners, Evolvence India, responsAbility, 360 ONE, Apis Partners, Lok Capital, Amicus Capital, Mount Nathan, Others.
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