How Kenko Health's Future Remains Uncertain Amid Investor Deadlock
Kenko Health's Mission
Kenko Health was founded in 2019 by Aniruddha Sen and Dhiraj Goel to make health insurance more affordable.
Early Success
By early 2022, Kenko raised over $13 Mn from investors, indicating strong initial support.
Revenue Growth
Kenko's revenue surged from INR 5 Cr in FY22 to INR 85 Cr in FY23, but net losses also tripled.
Insurance License Hurdles
Kenko's goal to obtain an insurance license hit a snag due to regulatory requirements for domestic capital.
Investment Failure
A crucial $27 million funding round failed in June 2023, leaving Kenko in a difficult position.
Current Challenges
Kenko faces potential layoffs, debt obligations, and unpaid dues, complicating its financial situation.
Future Uncertain
Without an insurance license, Kenko's future relies on scaling its current subscription model amidst investor and regulatory challenges.
Kenko Health In Catch-22: Investor Deadlock Puts Insurtech Startup On Thin Ice
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