Online insurance provider Digit Insurance closes Rs121 Cr in fresh round

Insurtech startup Digit Insurance has raised INR 120.8 Cr in a fresh round of funding from more than 50 investors. As per the fillings accessed by Inc42, Digit Insurance will be allocating a total of 38,47,427 equity shares at an issue price of INR 314. The fresh round was led by TVS Growth Fund which were allotted 17,83,440 shares. RS Filmcraft (OPC) Private Limited was allotted the second highest number of shares 1,59,236.

Digit offers a portfolio of products across motor, travel, property and health insurance. It was the first startup to turn unicorn in 2021 and since then, two dozen Indian companies have turned into unicorns. Last month, Digit claimed to have 20 million customers and processed 400,000 claims since its inception in October 2017. In FY21, it also claimed a 44% year-on-year growth in gross written premium or GWP to Rs 3,243 crore.

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