Online Insurance Provider Digit Insurance Closes INR 121 Cr In Fresh Round

Online Insurance Provider Digit Insurance Closes INR 121 Cr In Fresh Round

SUMMARY

Digit Insurance issued a total of 38,47,427 equity shares to more than 50 investors

TVS Growth Fund led the investment round and was allotted more 17 lakh equity shares

Digit Insurance last month announced to have raised $200 Mn thus soaring the valuation to $3.5 bn

Bengaluru-based insurtech startup Digit Insurance has raised INR 120.8 Cr in a fresh round of funding from more than 50 investors. As per the fillings accessed by Inc42, Digit Insurance will be allocating a total of 38,47,427 equity shares at an issue price of INR 314. The fresh round was led by TVS Growth Fund which were allotted 17,83,440 shares. RS Filmcraft (OPC) Private Limited was allotted the second highest number of shares 1,59,236

The investment comes on the heels of Digit Insurance raising $200 Mn from Sequoia Capital India, IIFL Alternate Asset Managers, Faering Capital and others. The investment almost doubled Digit Insurance’s valuation to $3.5 Bn from $1.9 Bn it was in January this year. However, the startup has yet to share the transaction details of $200 Mn funding with the ministry of corporate affairs. Digit Insurance was the first startup to have entered the coveted unicorn club this year after it raised INR 135 Cr from existing investors at a valuation of $1.9 Bn.

No results were found for "".
  • «
  • 1
  • »
modal lock

Continue Reading With A Free Inc42 Account

Get the most out of your Inc42 experience by creating a free account. Enjoy personalized recommendations, ad-lite browsing, and access to our exclusive newsletters.