ACKO acquires car retailing platform VLer Technology
Acko India, an insurance technology platform, has acquired Mumbai-based VLer Technology, a online car selling startup.
Acko India, an insurance technology platform, has acquired Mumbai-based VLer Technology, a online car selling startup. VLer helps customers purchase cars online. It provides car buyers a platform through an algorithm-based recommendation system, and dealer negotiations. Besides that it takes care of financing, insurance and other related paperwork after the deal is finalised.
With the acquisition of VLer, Acko is getting deeper into strengthening its auto eco-system. VLer’s capabilities and know-how in this area will help Acko improve its offerings to customers and provide better customer satisfaction across the entire lifecycle of car purchase and usage, Acko India said in a statement.
"Insurtech is our core and major focus area. Our next steps on this are to track down various data points on customer behaviour, usage patterns to enhance insurance and underwriting technology. We believe with the domain expertise of VLer team, it will help us leverage this faster." said Ruchi Deepak, co-founder of Acko.
VLer was founded by Sanjay Bharti and Akash Saxena, both graduates of IIT Bombay, who have several years of experience in the technology and retail domain. Both the co-founders have joined Acko Technology team.
Acko Technology and Services is the holding company of Acko General Insurance Limited, a digital insurance provider which makes buying and using insurance effortless. Acko was founded in 2016. It has partnered with major tech companies like Amazon and Ola. Acko has retained all the employees of VLer Technology. This acquihire may help Acko get more customers onboard.
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