RenewBuy to merge with InsuranceDekho for INR80bn.

RenewBuy, an insurance broking and aggregation platform with a hybrid distribution model, agreed to merge with InsuranceDekho, a company specializing in digital insurance distribution, for INR80bn. The parties believe that combining the businesses of the Proposed Combination will significantly enhance last-mile insurance distribution across India’s 19,000+ pin codes. Further, through the Proposed Combination, investors with stakes in both the ID and RB entities will align their resources and expertise, enabling more informed business decisions that enhance provision of marketing services and SaaS products.