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Market Chatter: Amazon-Backed Acko Reportedly Plans to Raise New Funds at $1 Billion Value

05/11/2021 11:35

03:29 PM EDT, 05/11/2021 (MT Newswires) -- Amazon-backed (AMZN) Acko General Insurance is exploring a new funding round that might value the Indian online insurer at over $1 billion, Bloomberg reported Tuesday, citing unidentified sources.

The startup is looking to raise about $200 million in the round, the business news service reported, citing those sources, who added that Acko is also weighing a listing as soon as this year.

Founded in 2016, Acko has over 400 employees and has sold policies to more than 50 million customers, according to the report. The startup also counts Accel, Catamaran Ventures and SAIF Partners among its investors.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)