Acko became India’s latest unicorn after the digital insurer raised $255 million at a valuation of $1.1 billion in a fundraising round led by private equity firms General Atlantic and Multiples Private Equity.
Canada Pension Plan Investment Board and Lightspeed Growth also took part in the fundraising along with existing investors Intact Ventures and Munich Re Ventures, Acko said in a statement on Wednesday. The transaction is subject to approval by the Insurance Regulatory and Development Authority of India (Irdai).
