Xelpmoc Acquires a 10% Stake in Ideal Insurance

Bangalore-based Xelpmoc, a technology, analytics and design company, has recently acquired a 10% stake in Ideal Insurance Brokers, an Indian insurance broker that operates an online health insurance platform called 121Policy.com, which plans to expand to additional lines of business. The deal amount remains undisclosed. According to The Times of India, the brokerage firm has set a target to become one of the top five brokers in India by 2020.

“We are very pleased to have Xelpmoc on board, they have been of tremendous help in terms of strategizing, and planning to take the company at the next stages of growth. When we planned 121policy.com, we were looking for a partner who is an expert in technology, which is not our forte. That is when we connected with Xelpmoc and it led to a strong strategic relationship” – Ideal Insurance COO Rahul Mohata.