InsuranceDekho, an insurance coverage coverage aggregator platform, has raised over Rs 1,200 crore ($150 million) in a Sequence A spherical, marking one of many largest ever such rounds by an Indian insurtech firm.

The fundraise was a mixture of fairness and debt, led by Goldman Sachs Asset Administration and TVS Capital Funds, with participation from Investcorp, Avataar Ventures and LeapFrog Investments.

The Gurugram-based InsuranceDekho was based in 2016 and incubated inside the IPO-bound unicorn CarDekho. The holding firm for InsuranceDekho is Girnar Insurance coverage Brokers Pvt., which was granted a direct dealer license by the Irdai in 2017.

The funds might be utilized in a five-pronged method, Ankit Agrawal, founding father of InsuranceDekho, instructed BQ Prime.

“The most recent funding might be used to scale-up InsuranceDekho’s product and expertise capabilities, increase to new markets, launch new modern merchandise within the well being and life classes, develop the corporate’s MSME insurance coverage enterprise, strengthen its management staff and pursue inorganic progress alternatives.”

The corporate’s app and web site at the moment allows customers to check between 380 insurance coverage insurance policies, from over 46 insurance coverage corporations. The startup competes with listed participant PolicyBazaar and a number of other VC-backed corporations—reminiscent of Acko, IPO-bound Go Digit, Coverfox and Turtlemint—which have raised giant quantities of funding in the previous few years.