Digit Insurance: India Gets its First Unicorn Of 2021

The Bengaluru headquartered startup founded by insurance veteran Kamesh Goyal is now valued at $1.9 billion post investment

learn more about Debarghya Sil

By Debarghya Sil

Entrepreneur India
Kamesh Goyal, Chairman of Digit Insurance

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

There seems to be no halt for India's spree of producing unicorns. Last year, while the entire world was on its knees, India produced a record of 11 unicorns of which three entered into the coveted club in the last month. Fast forward to 2021, it just took 15 days for India to produce the year's first unicorn - Digit Insurance.

Insurtech startup – Digit Insurance on Thursday raised INR 135 crore of funding from its existing investors. According to media reports, the Bengaluru-headquartered startup post the capital infusion is valued at $1.9 billion.

The insurance-based startup was founded by Kamesh Goyal, an insurance veteran with experience in companies like Allianz Insurance and Bajaj Allianz Life Insurance in 2016. It is one of the first fully cloud-based insurance firms in the country.

The core reason behind establishing the startup was to simply customers' insurance journey with the help of technology. It boasts a portfolio of products across travel, vehicle, property, and health insurance.

Read Also: What Pandemic? India Produced Record 11 Unicorns In 2020

The startup which is backed by Canadian billionaire Prem Watsa's Fairfax group has claimed to have recorded profit on a quarterly basis in financial year (FY) 2021. In the FY2021, the company is reported to have 15 million customers.

Last year amidst the outbreak of the contagious virus, the startup raised $84 million from three growth equity investors - A91 Partners, TVS Capital, and Faering Capital. Rising to the occasion, the startup also launched a health insurance product against COVID-19.

Digit Insurance last year was the only Indian company to be listed in the CB Insights' global Fintech 250 list.

Debarghya Sil

Entrepreneur Staff

Former Correspondent

Related Topics


21 Productive Things to Do During Your Commute

How to use this frustrating "wasted time" to get smarter, more focused and re-energized.


Having Trouble Focusing? Here's How to Become Unstoppable in Your Performance

Here are a few tips on how to improve your focus, discipline and ability to complete projects.

News and Trends

Sukino Healthcare Solutions Raises INR 50 Crore In Series-A Funding

The company plans to deploy the fresh fund into expansion to newer geographies and newer areas of rehabilitation using technology and the best of business processes that it has mastered over the years


The Global Citizen

LeverageEdu, and as Akshay also admits, hasn't discovered anything new but is innovating on the experience across multiple stakeholders