PE Fund Investments
responsAbility joins insurtech firm RenewBuy's $60-M Series C round
Swiss impact investor responsAbility has participated in the USD 60 million Series C round of RenewBuy, a Gurugram-based insurtech company. Founded in 2015, RenewBuy, through its subsidiary D2C Insurance Broking Pvt Ltd, leverages its network of digitally enabled point of sale person (PoSP) insurance advisors to distribute motor, health, and life insurance to customers. The proceeds from the fundraise will be deployed to boost product and geographical expansions, and to reach millions of uninsured and under-insured Indian customers. Around 65% of RenewBuy's revenues come from the Tier 2 and 3 cities. The firm claims to be serving 3 million plus consumers, across 750 plus cities through a network of 60,000 plus insurance PoSP advisors.
From the Venture Intelligence PE-VC Deal Database: Between Nov-15 and Aug-21, RenewBuy had attracted $82-M from Evolvence India, Apis Partners, IIFL VC, Lok Capital, Amicus Capital, Mount Nathan, and others.
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