Insurtech firm Renewbuy bags $10 million from Apis, 360 One

Renewbuy Secures $10 Million in Funding

Renewbuy, an insurtech firm, has announced it has successfully secured $10 million in funding from Apis Partners and 360 One. This investment comes as Renewbuy prepares for its upcoming merger with InsuranceDekho.

Funding Details

The funds are intended to support business development as the company awaits regulatory approval for the merger. Renewbuy is currently valued at approximately $324 million following its last funding round, indicating a solid position in the market. The company plans to leverage this capital to expand operations during the interim period before the merger is finalized.

Impact on the Market

The infusion of cash is likely to enhance Renewbuy's growth strategies and overall market presence. With the expected merger with InsuranceDekho, the company aims to create a stronger competitive entity in the insurtech space. This funding not only assists in sustaining operations but also enables a focus on scaling up services and enhancing customer offerings.

Looking Ahead

The merger and this new funding highlight the ongoing consolidation trends within the insurtech industry, where companies are continuously seeking to adapt and innovate. Stakeholders will be paying close attention to how Renewbuy utilizes these resources to navigate the regulatory landscape and position itself effectively post-merger.

Original Source: https://economictimes.indiatimes.com/tech/funding/insurtech-firm-renewbuy-bags-10-million-from-apis-360-one/articleshow/121959939.cms