The combined entity will be valued at $1 Bn, a source familiar with the matter told Inc42.
The merger places RenewBuy’s valuation at around INR 3,000 Cr, while InsuranceDekho is valued above INR 5,000 Cr.
InsuranceDekho is also in talks to raise another funding round.
InsuranceDekho
and RenewBuy are close to finalising a merger that would value the combined entity at $1 Bn, a source familiar with the matter told Inc42.
“This will create one of the largest insurance marketplaces in India,” the source said, adding that the merged entities will operate under a single brand, positioning the new entity to compete directly with other major player in India’s insurance marketplace sector.
Notably, the combined entity is expected to be valued at over INR 8,000 Cr. The merger places RenewBuy’s valuation at around INR 3,000 Cr, while InsuranceDekho is valued above INR 5,000 Cr.
The merged entity will be second only to the listed insurtech major PB Fintech.
Additionally, InsuranceDekho is in talks to raise another funding round, though the value of this round is not yet known.
