RenewBuy.Com has secured INR 60 crores in equity funding from Amicus Capital, marking a significant investment aimed at expanding the company’s digital insurance offerings in India.

Information on the Target

RenewBuy.Com, established in 2015 by industry veterans Balachander Sekhar and Indraneel Chatterjee, has emerged as India’s fastest-growing online insurance aggregator. The company has quickly established itself as a formidable player in the online insurance sector, becoming the second-largest aggregator with a customer base exceeding 200,000 within just two years. RenewBuy's innovative platform allows over 6,000 insurance Point of Sale (POS) agents to provide enhanced service to their clients, leveraging efficient technology to facilitate instant policy issuance.

RenewBuy is revolutionizing how motor insurance is purchased, sold, and managed in India. By simplifying and digitizing the motor insurance sector, the company aims to significantly broaden its services by expanding into new geographic markets and incorporating additional product lines such as health, accident, and term life insurance.

Industry Overview in India

The online insurance market in India is experiencing significant growth, driven by increasing internet penetration and a surge in digital transactions. With a growing tech-savvy population, consumers are increasingly opting for convenient