Insurtech company RenewBuy has raised $45 million in a Series C funding round. This round was led by an investment from APIS Growth Fund II, a private equity fund managed by the UK-based asset manager APIS Partners LLP.
RenewBuy's existing investors - Lok Capital and IIFL Asset Management - also participated in the fund raise.
Since the pandemic, there has been a significant increase in demand for insurance products. And through this period, RenewBuy claims it has accelerated its growth significantly.
With Rs 1,000 crore in annualised premium, the company has doubled its monthly run rate and has been operationally profitable over the last four quarters. To talk about this accelerated growth and the current trends in the insurance sector, Startup Street spoke to Balachander Sekhar, CEO of RenewBuy.
Also, watch Startup Street in conversation with Pallavi Shrivastava, co-founder & Director of Progcap, who shared his views on the company's $25 million fund raise.
Moreover, Startup Street spoke to Girish Menon, Partner at KPMG India, who shared the key highlights from their report on casual gaming market in India.Watch video for more.