Beams Fintech Fund, a prominent private equity firm focused on growth-stage FinTech and financial services companies, has confirmed its participation in a $70m funding round for its portfolio company InsuranceDekho.
The round was co-led by Beams Fintech Fund alongside Japan’s Mitsubishi UFJ Financial Group (MUFG) and insurer BNP Paribas Cardif, which participated through its InsurTech fund managed by European investment firm Eurazeo.
Launched in 2017 by founder Ankit Agrawal, InsuranceDekho has established itself as one of India’s leading InsurTech platforms, transforming how insurance is distributed across the country. The platform aims to make insurance more accessible to a broader population by using AI-driven technology to simplify the buying process, policy management, and claims handling. To date, the platform has reached more than 10.2 million customers across India, with 21 new policies issued every minute.
Based in Gurugram, InsuranceDekho’s footprint spans 99% of India’s pin codes, supported by an extensive distribution network comprising 220,000 partners. Its platform offers more than 720 insurance products, covering areas such as motor, health, life, and corporate insurance. InsuranceDekho collaborates with 49 insurance providers, creating one of India’s most comprehensive insurance marketplaces.
Beams Fintech Fund founder and partner Sagar Agarvwal highlighted the firm’s continued support for InsuranceDekho’s growth, stating: “We have been strong believers of InsuranceDekho’s vision since our initial investment. 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. This follow-on investment reaffirms our belief in their potential to scale further and redefine insurance distribution landscape in India.”
InsuranceDekho founder and CEO Ankit Agrawal also commented on the latest investment, saying: “We are delighted to have Beams Fintech Fund, Eurazeo, and MUFG double down on their support. 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.”
The investment in InsuranceDekho is Beams Fintech Fund’s second deal of 2025. Earlier this year, Beams committed INR 200 crore into a pre-IPO opportunity with one of India’s largest unlisted non-banking financial companies (NBFC) specialising in financing used commercial vehicles. That company is expected to go public in June 2025.
Beams Fintech Fund is also nearing completion of its third investment of the year, targeting a leading player in the micro-loan against property (micro-LAP) sector, further deepening its focus on supporting India’s expanding financial services sector.
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