Gurugram-based insurtech startup RenewBuy has raised an additional $10 million in its Series C round from India-focused private equity platform Evolvence Capital (Evolvence India Fund). This funding is in addition to the recent $45 million capital investment led by Apis Partners, closing the Series C round at $55 million.
According to an official statement, RenewBuy will use the funds to double down on technology to provide a greater digital experience to the consumers through its POSP (point of a salesperson) insurance advisors. The startup also wants to use AI across the consumer’s insurance lifecycle - from buying insurance to being serviced to claim settlements.
