Digit Insurance raising $200 million in funding

In their current round of fundraising, insurance firm Digit is raising $200 million from existing investor Faering Capital and new investors Sequoia Capital India, IIFL Alternate Asset Managers, and a few others.

According to a report published on Friday, this brings the total capital invested in Digit Insurance to $442 million, valuing the company at $3.5 billion.

In January 2021, Digit was valued at $1.9 billion in a smaller round.

“Through technology, we will continue to focus on boosting insurance penetration and streamlining operations. “Our primary focus remains on customer service,” stated Kamesh Goyal, Chairman, and Founder of Digit Insurance.

“It was a difficult year for economies around the world, but I am delighted to see Digit continuing to stick to its purpose of simplicity and growing ahead of the industry,” said Prem Watsa, Chairman, Fairfax Financial Holdings, the initial investor in Digit Insurance. They stand out because of their relevant products, tech-enabled, straightforward processes, and customer-centric approach. To the crew, my best wishes.”

TVS Capital Funds, A91 Partners, Indian Cricket Team Captain (Men’s) Virat Kohli, and Digit staff are among Digit’s investors.