Beams Fintech Fund Leads USD 70 Mn Round in InsuranceDekho to Drive AI-Powered Insurance Expansion The fresh capital will be utilised to enhance InsuranceDekho's technological capabilities, expand its market presence, and strengthen its digital infrastructure to drive insurance adoption across India.
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Beams Fintech Fund, a leading growth-stage private equity fund specialising in the Fintech and Financial Services sector, has announced a follow-on investment in its portfolio company, InsuranceDekho, as part of a USD 70 million funding round.
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 firm Eurazeo.
The fresh capital will be utilised to enhance InsuranceDekho's technological capabilities, expand its market presence, and strengthen its digital infrastructure to drive insurance adoption across India. The company aims to further its reach by leveraging AI-powered tools and innovative solutions to simplify insurance accessibility for millions of Indians.
Ankit Agrawal, Founder and CEO of InsuranceDekho, said, "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."
Founded in 2017 by Ankit Agrawal, InsuranceDekho has emerged as India's leading insurtech platform, revolutionising insurance distribution through a tech-driven approach. The platform simplifies the buying, selling, and claims process by leveraging AI-driven solutions, making insurance more accessible to individuals and businesses alike. To date, InsuranceDekho claims to have served over 10.2 million customers nationwide, issuing 21 new policies every minute.
Headquartered in Gurugram, the company has expanded its reach across 99% of India's pin codes, supported by a vast network of 220,000 partners. It offers over 720 insurance products across categories such as Motor, Health, Life, and Corporate Business, collaborating with 49 insurance providers. This makes InsuranceDekho one of the most comprehensive insurance marketplaces in India.
Sagar Agarwal, Founder and Partner at Beams Fintech Fund, commented, "We have been strong believers in 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 India's insurance distribution landscape."
This marks Beams Fintech Fund's second investment in 2025, following a INR 200 crore investment in a pre-IPO opportunity in one of India's largest unlisted NBFCs specialising in used commercial vehicle finance, which is set to go public in June 2025. The fund is also in advanced stages of finalising its third investment for the year in a leading MSME micro-LAP player.
With these strategic investments, Beams has already deployed over INR 300 crore in 2025, reinforcing its commitment to backing category leaders driving financial inclusion and innovation in India.
