GirnarSoft, owner of auto-properties, CarDekho.com, Zigwheels.com and gaadi.com is planning to make an investment of $20 Million in its subsidiary, InsuranceDekho, omnichannel insurance platform. GirnarSoft will be using the funds in matters pertaining to branding and strengthening the tech, product and sales teams.
InsuranceDekho is a unique insurance selling platform that leverages both online and offline distribution networks. Besides, these funds will also be utilised in strengthening InsuranceDekho’s transaction businesses further and expand its footprint across the country. InsuranceDekho has recently revealed its plans of onboarding 1 lakh insurance advisors across the country.
“InsuranceDekho started as a modest initiative to complete the ecosystem play. Over the years, under Ankit’s leadership, it has taken a life of its own and ranks among the leading insuretech companies in the country. They have inherited CarDekho’s capital efficiency and tech prowess but are building a large and independent business of their own. This proposed fund infusion is our vote of confidence in their ability to build India’s most enduring insuretech business in India.” said Amit Jain, CEO and Co-Founder, GirnarSoft.
“In the first phase of our journey, we created a unique three-way marketplace of insurance consumers, India’s leading insurance companies and distribution partners. Our focus was on building an industry leading tech stack and a platform that each of our stakeholders trusted. Despite being frugal, we have gone on to become one of India’s leading insuretech companies. Our unique consultative approach coupled with the tailwinds that the insurance industry is witnessing presents us a rare opportunity to create a large, profitable, and impactful business.
This new capital infusion will be used to expand our digital footprint. We are already a force to reckon with in the B2B space. With this round we aim to invest in branding and marketing to further strengthen our B2C platform which has been seeing strong traction over the last 2 quarters.” said Ankit Agrawal, CEO and Co-Founder, InsuranceDekho.
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