Insurtech company InsuranceDekho raises $70 million funding co-led by Beams, MUFG & BNP Paribas Cardif

Gurgaon-headquartered insurtech firm InsuranceDekho has raised $70 million in a funding round co-led by three investment companies, according to an official announcement today, March 4.

The round was co-led by Beams Fintech Fund, Japan’s Mitsubishi UFJ Financial Group (MUFG) and insurer BNP Paribas Cardif through its insurtech fund managed by European investment major Eurazeo, the company said in the release.

The funding will help InsuranceDekho, which is backed by the CarDekho Group, expand its distribution network and strengthen its AI-driven insurance solutions.

"Their phenomenal growth, robust distribution network, and relentless focus on technology-driven accessibility make them a clear industry force. We have strong conviction in Ankit and the entire InsuranceDekho management team. Their expertise, speed, and execution capabilities continue to propel the company forward," said Sagar Agarwal, founder & partner at Beams Fintech Fund.

InsuranceDekho was started in 2017 by Ankit Agrawal. The company has emerged as India’s leading insurtech platform, revolutionising the insurance distribution landscape. With a mission to democratise insurance accessibility, the company has leveraged AI-driven technologies to simplify the buying, selling, and claims process for millions of Indians. To date, InsuranceDekho claims to have served over 10.2 million customers, with 21 new policies issued every minute on its platform.

"This capital will enable us to expand our reach, enhance our tech-driven offerings, and solidify our position as India’s go-to insurance platform. With our continued focus on digital transformation and customer-centric solutions, we are well-positioned to drive the next wave of insurance adoption in India," said Agrawal

Beams Fintech Fund is a mid-market private equity fund. This is its second investment in 2025. Earlier, it invested Rs 200 crore in a pre-IPO round in an NBFC company in India specialising in used commercial vehicle finance, which is set to go public in June 2025.