Participated · Series B · Oct 2023

InsuranceDekho is a Gurugram-based insurtech platform that aggregates and distributes insurance products across India. Its core product is a tech-enabled distribution platform that sells insurance through agent partners and direct channels, with strong focus on Tier 2+ markets. The company plans to use new funding to boost marketing, expand distribution in the Indian hinterland, scale its technology platform, pursue inorganic growth, and launch initiatives such as re-insurance. Financially, InsuranceDekho is on track to achieve Rs 3,600 crore in premium this financial year and has raised over $200 million in 2023. Operating metrics include presence in 1,500+ regions covering 98% of pin codes, over 90% of premiums coming from Tier 2 and beyond, having served more than six million customers, and currently insuring 12 Indians every minute. It aims to grow its agent network to 200,000 partners by March 2024. InsuranceDekho is a Gurugram-headquartered digital insurance platform incubated within the CarDekho group that integrates directly with nearly four-dozen insurers to offer roughly 400 insurance products. Automobile coverage is its most popular product, and the company is gearing to expand into health and life categories as well as serve small and medium-sized enterprises. The startup reports presence in about 98% of Indian zip codes and says it sells more than 80% of its coverage in smaller cities, relying on a field force of over 80,000 gig-economy ‘agents’ to educate customers and sell policies. InsuranceDekho aims to disburse total premiums worth over $240 million by March and plans to more than double its agent workforce by the end of the year. The company emphasizes tech-based solutions and empowered advisors to drive insurance penetration across India’s middle and lower-middle income populations, and plans M&A to build capabilities and geographic reach.

Participated · Series B · Aug 2023

Credgenics provides a SaaS-based debt collections platform serving banks, non-banking finance companies, asset reconstruction companies and digital lending firms worldwide. Its platform covers the end-to-end collections lifecycle with multi-channel digital communications, AI-powered predictor models for optimal collections strategy, a field collections mobile app called CG Collect, Billzy digital payments, a legal management system, comprehensive dashboards and deep analytical models. The technology aims to boost resolution rates, improve collections efficiencies, increase recoveries, transform customer experience and reduce non-performing loans. Founded in 2018 by Rishabh Goel, Anand Agrawal and Mayank Khera, Credgenics is an Indian company. In September 2023 it raised $50M in a Series B that valued the company at $340M. Credgenics said it will use the funds to expand its offerings and its business reach. Credgenics (Analog Legalhub Tech Solutions Pvt. Ltd.) is a SaaS-based collections and debt-resolution platform that works with financial institutions, banks, NBFCs and digital lending firms to improve collection efficiency using technology and automation intelligence. Its platform includes legal workflows and delivers customized strategies to increase recovery rates, reduce collection costs, and improve NPA management, geographic reach, and customer experience. The company uses automation, intelligence and optimal legal routes to expedite recovery of bad loans. Credgenics says it will use fresh capital to strengthen R&D infrastructure, expand into new demographics, and scale its operations across India. The company raised $25.0M in a Series A in August 2021.

Participated · Series C · Feb 2022

Niyo is a neobanking platform that offers digital savings accounts and other banking services in partnership with banks. It issues travel and forex cards in partnership with SBM and DCB Bank and provides zero-balance prepaid cards for domestic blue-collar workers. The company serves around four million customers across its banking and wealth management products and processes transactions worth over $3 billion daily. Founded in 2015 by Vinay Bagri and Virender Bisht, Niyo plans to expand into more consumer-focused products such as credit cards, remittances, and loans and will soon launch an outward remittance business. The startup says it will deploy the funds to expand product capabilities, grow the customer base through organic and inorganic opportunities, bolster team strength across functions, and invest in brand building. Niyo offers digital savings accounts and banking features by partnering with banks to deliver a modern user experience, plus a wealth management product for mutual funds and domestic equities. Popular features include zero percent forex markup and an "invest the change" roundup investing option. The company has launched NiyoX less than a year ago and says it has seen strong adoption. Niyo has amassed over 4 million customers, is adding more than 10,000 new users per day, and is processing over $3 billion in annualized transactions. The six-year-old, Bengaluru-headquartered startup plans to add lending (loans around ₹70,000 / $930) starting next month and is pursuing inorganic growth via acquisitions as it broadens its product set. NiYO (founded in 2015) partners with employers and banks to deliver digital payroll, benefits and financial services through a mobile app. Its product enables employees to access tax‑exempt benefits (healthcare, food allowances), submit claims via the app, and use credit cards that employers can lock to specific spend categories. The startup also offers insurance, investment products, personal credit lines and credit cards that use employment as the guarantee. NiYO says it can increase employees' take‑home pay by at least 10% and currently serves over 100,000 salaried employees across more than 500 companies, with roughly 40% of users having never had a credit card before. It acquires users via employer sign‑ups and distribution through bank partners YES Bank and DCB Bank. To expand beyond tier‑one cities, NiYO plans to offer basic payroll software for free in tier‑two and tier‑three locations to onboard more employers to its core services.