Beams Fintech Fund leads $70M funding round in InsuranceDekho

Beams Fintech Fund, a leading growth-stage private equity fund focused on the fintech and financial services sector, has announced a follow-on investment in its portfolio company, InsuranceDekho, as part of a $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 major Eurazeo.

Founded in 2017 by Ankit Agrawal, InsuranceDekho has emerged as India’s leading insurtech platform, revolutionizing the insurance distribution landscape. With a mission to democratize insurance accessibility, the company has leveraged AI-driven technologies to simplify the buying, selling, and claims process for millions of Indians.

To date, InsuranceDekho has served over 10.2 million customers nationwide, with 21 new policies issued every minute on its platform. Headquartered in Gurugram, India, the company has achieved a footprint across 99% of the country’s pin codes, supported by a network of 220,000 partners offering 720+ insurance products across categories such as motor, health, life, and corporate business. The platform has partnered with 49 insurance companies, making it one of the most extensive insurance marketplaces in India.

Sagar Agarvwal, Founder and Partner at Beams Fintech Fund, said they have been strong believers of InsuranceDekho’s vision since their 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,” he said.

Agarvwal added that the follow-on investment reaffirmed Beams’s belief in InsuranceDekho’s potential to scale further and redefine the insurance distribution landscape in India.

Ankit Agrawal, Founder and CEO of InsuranceDekho, expressed delight 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,” he said.

This is the second investment for Beams Fintech Fund in 2025, following a Rs 200 crore investment in a pre-IPO opportunity in one of the largest unlisted NBFC companies in India that specializes in used commercial vehicle finance across India and is set to go public in June 2025.

Beams is also in advanced stages of finalizing its third investment for the year. This will be in a leading MSME micro-LAP player, further expanding the fund’s footprint in India’s high-growth financial services landscape.

With these investments, Beams, a mid-market private equity fund, has already deployed over Rs 300 crore since the start of 2025, reinforcing its commitment to backing category leaders driving financial inclusion and innovation in India.