Chennai: RenewBuy has raised US$ 45 million, in a series C funding round.
This funding round has been led by an investment from Apis Growth Fund II, a private equity fund managed by Apis Partners LLP, a UK-based asset manager that supports growth stage financial services and financial technology businesses.
RenewBuy’s existing investors, Lok Capital and IIFL Wealth also participated in the fundraise, a statement said.
As a result of Covid-19, there has been a significant increase in demand for insurance products. Through this period, RenewBuy has accelerated its growth significantly and its digital platform has gained market share, it added.