The funds will be invested in branding, and strengthening the technology, product and sales teams, InsuranceDekho said in a statement.
The funds will also be used to strengthen InsuranceDekho’s transaction businesses and expand its footprint deeper into the country.
InsuranceDekho recently announced plans to onboard 1 lakh insurance advisors across the country. It has already enrolled 20,000 advisors successfully, the company said.
“This proposed fund infusion is our vote of confidence in their ability to build India’s most enduring insuretech business in India,” said Amit Jain, CEO and co-founder of GirnarSoft.
The other ventures of GirnarSoft are CarDekho.com, Zigwheels.com and gaadi.com.
“This new capital infusion will be used to expand our digital footprint. We are already a force to reckon with in the B2B space. With this round we aim to invest in branding and marketing to further strengthen our B2C platform which has been seeing strong traction over the last 2 quarters,” InsuranceDekho CEO and co-founder Ankit Agrawal said.
InsuranceDekho enables customers to compare different insurance policies, both online and offline, and has tie-ups with over 26 general insurance companies.
The company is currently at an annualized run rate of 20 lakh policies and intends to close March 2021 at an annualized run rate of 36 lakh policies, it said.