“When distributors and clients see large entrenched players in the business, as a new player, you need to answer to everyone what you will do uniquely.”
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Digit Insurance valued at $3.5 billion, raises $200 million
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Digit Insurance valued at $3.5 billion, raises $200 million
Mayur Shetty / TNN / Updated: Jul 3, 2021, 10:08 IST
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MUMBAI: Canadian billionaire Prem Watsa-backed Digit Insurance has achieved a valuation of $3.5 billion with its latest fundraising round of $200 million from existing investor Faering Capital and some new ones like Sequoia Capital India and IIFL Alternate Asset Managers. The investment is subject to regulatory approvals.
With this round of funding, the total capital infusion into Digit has crossed Rs 3,000 crore the highest for any non-life company in India. The fundraising follows a 44% growth in premium to Rs 3,243 crore. Insurance companies need to set aside capital for solvency in proportion to the business they write.
Start-ups raise over $450 millon in a day amidst strong investor sentiment
On Friday, start-ups raised more than $450 million from a pool of investors, signalling strong tailwinds for the ecosystem which so far this year saw the birth of 14 unicorns.
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| A+A A- By Express News Service
BENGALURU: With the second wave of Covid-19 slowly ebbing, investors seem to have started focusing on sectors beyond ed-tech, food delivery and life sciences that have been predominantly attracting big cheques since last year.
On Friday, start-ups raised more than $450 million from a pool of investors, signalling strong tailwinds for the ecosystem which so far this year saw the birth of 14 unicorns.