Acko, a private sector general insurance company, has raised fresh funding of $16 million from growth stage investment firm Ascent Capital. A few media reports suggest that the Binny Bansal, ex-CEO and founder of Flipkart, may have invested around $20 million in Acko. The company was founded by Varun Dua in 2016.
Last year, Acko raised $12 million in Series B funding. The startup also raised $12 million in Series A led by Amazon. It had raised $30 million, one of the highest seed funding in the Indian startup ecosystem, in May 2017.
Acko is India’s first and fastest-growing InsurTech company, which makes buying and using insurance effortless. Acko has partnered with major tech companies like Amazon, OYO and Ola, and is renowned for its innovative insurance products. The company is backed by Amazon, Accel, Catamaran Ventures, SAIF Partners, Swiss Re Transamerica Ventures and seasoned investors like Ashish Dhawan, Kris Gopalakrishnan, Hemendra Kothari, Atul Nishar, Rajeev Gupta, Venk Krishnan and Subba Rao.
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