The company was last valued at $3.5B in July 2021. Here are the top-line bullets you need to know.
Digit Insurance, an insurtech company, has raised $54.7M in a Series F from Sequoia Capital and IIFL.
How’s the company performing?
- India-based Digit Insurance provides automobile, health, and travel insurance solutions, among others.
- The company witnessed 62% growth in FY’21-22, generating over $65B in revenue.
- Over the same period, Digit Insurance sold nearly 8M policies, up 40% year-over-year.
- The company currently caters to over 20M customers and has serviced 99.56% of India’s total pin codes since its launch.
Source: Digit Insurance
Why does the market matter?
- The global insurtech market is expected to reach a value of $152B by 2030, growing at a CAGR of 52%, according to Grand View Research.
- The growing demand for digitized insurance services and simplified claims processes is driving market growth.
- Global investments in insurtech startups surpassed $15B in 2021.
