In FY24, InsuranceDekho, the insurance arm of CarDekho, became profitable due to a significant increase in income

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InsuranceDekho, founded in 2017 by Ankit Agrawal, Alok Bhatnagar, Ish Babar, and Sanjeev Gujral, offers over 380 products from 46 Indian insurance firms

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The firm made a net profit of INR 85.7 Cr in FY24, compared to a loss of INR 51.6 Cr in FY23

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Operating revenue increased by 670% to INR 743.6 Cr in FY24 from INR 96.5 Cr in the previous year

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Insurance brokerage services generated 97% (INR 726.6 Cr) of operational revenue, with ancillary services accounting for the remaining INR 17 Cr

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Total expenses increased by 360% to INR 699.2 Cr in FY24, from INR 151.9 Cr in the previous fiscal year

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In FY23, InsuranceDekho spent INR 107.05 Cr on employee-related costs, up 21.7% year on year (YoY)

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The startup raised $60 million in its Series B investment round in October last year and is reportedly in talks for an additional unknown amount

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According to recent sources, InsuranceDekho is close to merging with RenewBuy, potentially valuing the united business at $1 billion

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