Former Indian men’s cricket team captain Mahendra Singh Dhoni has made a strategic investment in direct-to-customer (D2C) insurance platform Acko through his family office, Midas Deals.
Acko did not disclose the deal size of the investment. Dhoni will also serve as Acko’s brand ambassador, according to a statement from the company.
Co-founded in 2016 by Varun Dua and Ruchi Deepak, Acko is a digital-first insurance and financial services company that focuses on customer experience and technology-driven solutions. It offers a range of insurance products, including auto, health, and travel insurance, as well as group health insurance for employees. The platform is recognized as India’s first digital insurer and has gained popularity for its zero-commission, zero-paperwork, and instant claim settlement processes.
Acko has one of the largest market shares in embedded insurance products like mobility and gadget insurance in partnership with more than 50 leading players in the internet ecosystem such as Oyo, redBus, Zomato, HDB Financial Services and Urban Company.
The company claims that it has distributed insurance policies to over 78 million customers and issued over 1 billion insurance policies.
Acko has surpassed the Rs 2,000 crore revenue mark in the fiscal year ending March 2024. Its revenue increased by 19.8% to Rs 2,106 crore in FY24 from Rs 1,758 crore in FY23.
The company has raised over $458 million, including a $255 million unicorn round led by General Atlantic in October 2021. General Atlantic is the largest external stakeholder with a 10.7% stake, followed by Accel Partners and Elevation Capital
