Digit Insurance joined the Unicorn Club on January 15, 2021 after raising a $21.7 million Series C funding round, reaching a $1.95 billion valuation. Headquartered in Bengaluru, Karnataka, India, Digit Insurance provides general and life insurance products across multiple categories.
The platform offers car, bike, health, property, travel, business, term life, savings, retirement, and group insurance plans. It facilitates policy renewals, claims processing, and provides educational resources for customers.
Keep reading to learn how Digit Insurance became a leading insurtech unicorn in India.
What Is Digit Insurance and What Does It Do?
Founded in 2016, Digit Insurance is an internet-first insurance platform providing general and life insurance products. The company offers policies for vehicles, health, travel, property, and business, along with term life, retirement, savings, and group insurance plans.
Digit Insurance enables easy claims processing, policy renewals, and agent partnerships. The platform also provides calculators, guides, and transparency reports to simplify insurance decisions and enhance customer experience.
How Much Funding Has Digit Insurance Raised?
1. Seed Round
- Amount Raised: $5 million
- Date: 2016
- Lead Investors: TVS Capital Funds, angel investors
- Purpose: Build technology platform and acquire early customers
2. Series A Round
- Amount Raised: $15 million
- Date: 2017
- Lead Investors: Faering Capital
- Purpose: Expand insurance offerings and strengthen operational infrastructure
3. Series C Round
- Amount Raised: $21.7 million
- Date: January 2021
- Valuation: $1.95 billion
- Lead Investors: TVS Capital Funds, A91 Partners, Faering Capital
- Purpose: Scale digital insurance operations, enhance platform capabilities, and grow customer base
4. Series D Round
- Amount Raised: $54.5 million
- Date: May 2022
- Lead Investors: Existing investors
- Purpose: Expand product portfolio, improve technology, and scale nationwide operations
Total Funding Raised: $467 million Latest Funding Date: May 2022 Latest Known Valuation: $1.95 billion Employee Count: 5,936 as of April 2025
Key Investors
- TVS Capital Funds
- Details: Private equity firm investing in growth stage companies
- Focus Areas: Financial services, insurance, and technology platforms
- Faering Capital
- Details: Private equity firm focused on technology and insurance sectors
- Focus Areas: Insurtech, digital platforms, and financial services
- A91 Partners
- Details: Growth equity investment firm
- Focus Areas: Internet-first technology and insurance companies
Where Is Digit Insurance’s Headquarters?
Digit Insurance is headquartered in Bengaluru, Karnataka, India, supporting its digital insurance operations, claims processing, and product development teams.
What’s Next for Digit Insurance?
Digit Insurance plans to expand its digital insurance product suite, enhance customer experience, and strengthen its technology infrastructure. The company is focused on scaling operations nationwide, improving claims processing, and increasing adoption of online insurance solutions.
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