Transamerica Ventures Backs The Talented(?) Coverfox
Coverfox, the four-year-old Mumbai-based insurance aggregator, announced that it has raised $15 million in a Series C led by Transamerica Ventures . Some speculate the company, which according to its website serves some 70K customers, is valued between $70 million to $100 million. The same Coverfox that’s busy launching a digital insurer called Acko General Insurance with $30M in funding. The tweet on the street:
Competitor Policybazaar > Coverfox
Competitor Turtlemint > Coverfox, Policybazaar
Bottom Line: money can’t buy talent. One last thing. VP of marketing at Coverfox, Aniket Thakkar, believes Policybazaar is a copycat. He also believes Coverfox is ahead of the curve. You be the judge.
Recall 2017 insurance-related investments here.
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