<ul data-eligibleForWebStory="true"><li>RenewBuy, an insurance broking startup, has secured $10 million in fresh funding from existing investors Apis Partners and 360 One.</li><li>The funding aims to support business development until the pending merger with InsuranceDekho is finalized.</li><li>RenewBuy facilitates the sale of various insurance policies through a network of physical agents and intends to utilize the funds for operational support and business expansion.</li><li>The proposed merger with InsuranceDekho, announced in October 2024, is still awaiting regulatory approval from IRDAI.</li><li>Founded in 2014, RenewBuy has raised a total of approximately $141 million from investors like Dai-ichi Life Holdings and Apis.</li><li>In the financial year ending March 2024, RenewBuy recorded total revenue of Rs 410 crore and narrowed its losses to Rs 114 crore, displaying enhanced operational efficiencies.</li><li>The merger with InsuranceDekho, if finalized, could value RenewBuy at an estimated $300 million to $350 million, positioning the combined entity as a prominent player in India's insurance aggregation sector.</li></ul>

Insurance broking startup RenewBuy raises $10 million in funding: Report

Discover more