Acko Raises $60 Million Led By Munich Re Ventures

Bengaluru-based insurtech start-up Acko has raised $60 million in its Series D funding led by Germany-based Munich Re Ventures, with participation from existing investors Amazon, RPS Ventures and Intact Ventures Inc., which is the corporate venture arm of Canada’s largest property and casualty insurer. The company said it has issued over 650 million policies to over 60 million unique customers to date. “Munich Re has been a strategic partner to Acko since inception and we are really excited to bring them on board as our investor. As one of the largest reinsurance companies globally, their investment shows confidence in our data and technology-driven business model,”said Varun Dua, founder and CEO, Acko. “We’re excited to join forces with one of the leading digital insurers in India, as well as other investment partners, to help support Varun and his impressive team as they continue their journey,” said Oshri Kaplan, Director, Munich Re Ventures. “Since our first investment in Acko which was made last year, it has scaled quickly to become the leading digital insurer in India by leveraging data and technology to create a unique customer-centric experience,” said Karim Hirji, senior vice-president & managing director of Intact Ventures.