shot-button
Maharashtra Elections 2024 Maharashtra Elections 2024
Home > Sports News > Cricket News > Article > Virat Kohli backed Digit Insurance soars in valuation after capital influx

Virat Kohli-backed Digit Insurance soars in valuation after capital influx

Updated on: 04 July,2021 12:00 AM IST  |  New Delhi
IANS |

Digit Insurance is a digital-only general insurance company with Kohli as one of the investors as well as a brand ambassador.

Virat Kohli-backed Digit Insurance soars in valuation after capital influx

Virat Kohli. Pic/AFP

Digit Insurance, backed by Indian skipper Virat Kohli, has attracted $200 million investment from existing and new investors which has helped rocket its valuation to $3.5 billion (approximately Rs 26,000 crore).


The influx of capital from existing investor Faering Capital and new investors Sequoia Capital and IIFL Alternate Asset Managers has almost doubled the valuation of the financial technology firm from $1.9 billion in January when the company had received its last funding.


Digit Insurance is a digital-only general insurance company with Kohli as one of the investors as well as a brand ambassador.


"In the first quarter of this year, we grew by 60 per cent (in terms of gross premiums) compared to the same period last year, and this is largely coming from the health insurance business. Further, we overall grew 70 per cent in April and May versus the industry growth of 17 per cent," said founder and chairman Kamesh Goyal.

Also Read: Happy days are here again!

"For health, the growth is primarily driven by Covid-related insurance products. Now, we will look to offer newer health cover products during this financial year as we look to expand our on-ground coverage to newer Indian geographies this year," added Goyal.

Also Read: Quartets give no quarter

This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!


Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK