Latest news with #ApisPartners
Entrepreneur
2 hours ago
- Business
- Entrepreneur
RenewBuy Secures USD 10 Mn in Fresh Funding
The funds will be used to support ongoing business operations and expansion efforts as the company moves closer to its proposed merger with rival InsuranceDekho. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Insurtech firm RenewBuy has raised USD 10 million (approximately INR 86 crore) in fresh funding from its existing backers, Apis Partners and 360 One (formerly IIFL Wealth). The funds will be used to support ongoing business operations and expansion efforts as the company moves closer to its proposed merger with rival InsuranceDekho. The merger, first reported in October 2024, is expected to value RenewBuy at USD 300–350 million, potentially creating a billion-dollar insurance broking entity in India. The deal is currently pending approval from the Insurance Regulatory and Development Authority of India (IRDAI). According to filings with the Registrar of Companies, the recent capital infusion includes INR 45 crore (USD 5 million) from Apis and individual investors such as Gaurav Deepak, Gauri Taneja, Sanjay Kaul, and Derrik Roshan Dsouza. Founded in 2014, Gurugram-based RenewBuy offers motor, health, and life insurance products through a widespread point-of-sale agent network. In July 2023, it had secured USD 40 million in Series D funding from Dai-ichi Life Holdings Inc. Financially, RenewBuy posted revenues of INR 410 crore in FY24, up from INR 287 crore in FY23, while reducing its net losses to INR 114 crore from INR 197 crore in the previous fiscal. The fresh funding is expected to bolster its growth as it prepares for one of the biggest mergers in the sector.
Time of India
a day ago
- Business
- Time of India
Insurtech firm Renewbuy bags $10 million from Apis, 360 One
Insurance broking startup Renewbuy has secured $10 million (about Rs 86 crore) in a funding round from existing investors, London-based Apis Partners and 360 One (previously IIFL Wealth), according to people with knowledge of the matter. It comes at a time when the Gurgaon-based insurance startup is in the process of merging with rival insurance broker InsuranceDekho. 'These funds will help in business development till the time the merger gets closed,' said one of the persons, who did not wish to be identified. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Jämför elpriser (Billigast) Undo Renewbuy did not respond to queries from ET. ET had reported on October 28, 2024, that InsuranceDekho was looking to acquire Renewbuy, valuing the startup at around $300-350 million, thereby creating a billion dollar merged entity in the insurance broking segment. Live Events While the deal is in the works, it is yet to be approved by the Insurance Regulatory and Development Authority of India. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The company plans to use the funds to run the business and expand its operations in the interim period. Renewbuy, founded in 2014, has raised $141 million since inception from large investors such as Japanese insurance firm Dai-ichi Life Insurance, Apis Partners and Lok Capital. After the last equity funding in June 2023, the startup was valued at around $324 million, according to Tracxn. Renewbuy sells motor health and life insurance products through a network of physical agents — or point of sales persons, in industry parlance. For 2023-24, the company reported total revenue of Rs 410 crore and net loss of Rs 114 crore. The startup competes with three other major players in this segment — CarDekho-backed InsuranceDekho, Peak XV Partners-backed Turtlemint and PB Partners, a subsidiary of Policybazaar.
Finextra
02-06-2025
- Business
- Finextra
UK fintech Tide eyes unicorn status
Tide, the UK-based business banking fintech, is reportedly in talks about a funding deal that would make it the UK's next unicorn. 1 This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. According to Sky News, Tide is in advanced talks with Apis Partners, a UK-based fintech investor, about a new funding deal that would see its valuation rise above $1bn. Apis has previously invested in UK fintechs such as digital wealth manager Moneybox and digital payments infrastructure provider Thunes, as well as a number of investments in India which is Tide's biggest market besides the UK. The fintech has more than 650,000 SME customers in both India and the UK.
Sky News
02-06-2025
- Business
- Sky News
SME lender Tide eyes $1bn valuation in Apis funding talks
Tide, the business banking services platform, is in advanced talks to raise new funding in a deal expected to make it Britain's latest technology unicorn. Sky News has learnt that Tide has been negotiating the terms of an investment from Apis Partners, a prolific investor in the fintech sector, for some time. City sources cautioned that a deal between the two was not yet certain to take place, and that other investors were also in discussions. Apis Partners has backed early-stage companies such as Moneybox, the UK-based digital wealth manager, and Thunes, a digital payments infrastructure provider. Significantly, the firm has made a string of investments in India, which is overtaking the UK as Tide's single-biggest geography. Tide now has roughly 650,000 SME customers in both Britain and India, with the latter market expanding at a faster rate. The precise terms of a deal between Apis and Tide were unclear on Monday. Morgan Stanley, the Wall Street bank, has been advising Tide on the fundraising, which is expected to comprise a combination of primary and secondary shares. Tide was founded in 2015 by George Bevis and Errol Damelin, before launching two years later. It describes itself as the leading business financial platform in the UK, offering business accounts and related banking services. The company also provides its SME 'members' in the UK a set of connected administrative solutions from invoicing to accounting. It now boasts a roughly 11% SME banking market share in Britain. Tide, which employs about 2,000 people, also launched in Germany last May. The company's investors include Apax Partners, Augmentum Fintech and LocalGlobe.
Yahoo
28-04-2025
- Business
- Yahoo
Payments firm Thunes nets $150m in Series D investment
Cross-border payments company Thunes has secured $150m in a Series D financing round, led by private equity firms Apis Partners and Vitruvian Partners. Said to be the largest-ever for the company, this capital injection will help the Singapore-based payments firm expand in the US. The company said that the latest round marks a 'significant valuation increase' over its prior round. This is supported by the company's recent licences across 50 US states, which is currently pending regulatory approval. The investment will also enhance Thunes' Direct Global Network, which spans over 130 countries, supports over 80 currencies, and includes more than 550 direct integrations, enabling real-time payments. Thunes aims to facilitate seamless cross-border payments by making diverse payment systems, including traditional, digital, and emerging currencies, interoperable. With technology and compliance standards, Thunes seeks to be a 'go-to solution' for cross border payments, connecting wallets and partners globally. Proton Partners was the financial advisor for this transaction. Thunes CEO Floris de Kort said: 'Thunes' latest funding round is a clear validation of our strategy and our commitment to sustainable growth. Our performance, marked by a Revenue run-rate of $150 million and positive EBITDA, demonstrates our ability to balance rapid expansion with financial prudence, even in a tumultuous market. 'This new capital enables us to extend our Direct Global Network, including in the United States, drive technological innovation, from Artificial Intelligence to digital asset ecosystem interoperability, and deliver superior value to the Members of our proprietary Network. In a challenging funding environment, our progress and resilience set a new industry standard.' The latest news comes close on the heels of the launch of Thunes Business Payments, a cross-border payment solution that enhances the payment experience for the firm's Direct Global Network members. "Payments firm Thunes nets $150m in Series D investment " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
