RenewBuy is one of India’s leading InsurTech companies, which has raised $45 million (about Rs 320 crore) in a Series D funding round. The funding was led by UK based Apis Fund. Existing investors Lok Capital and IIFL also participated in the funding.
RenewBuy, through its Subsidiary D2C Insurance Broking Private Limited enables retail customers to buy motor, health and life insurance products with a unique end-to-end digital experience. Using technology as an enabler, the company has created differentiation in consumer experience and service, as well as in the geographical expansion of the sector. The fresh capital will be used to scale technology, add more products and expand the digital network.
PDS Legal advised RenewBuy in the Series D Transaction as legal advisors. Our role involved drafting, negotiation and finalisation of the underlying transaction documentation as well as assisting with the closing formalities of the transaction.