Vantage Point by EMVC - Oct 13, 2023
Updates to keep up with the latest in fintech from our vantage point.
Welcome back,
This week inflation in India eased to 5.02%. InsuranceDekho and Onsurity raised funding rounds.
From the team at Emphasis Ventures.
If you’re a fintech startup or thinking about starting up, we’d like to meet you. At Emphasis Ventures, we’ve worked with founders of Slice, M2P, Khatabook, Bureau and many others from their early days.
In its Monetary Policy Committee meeting late last week, the Reserve Bank of India (RBI) decided to keep the repo rate unchanged at 6.5%. This comes at a time when inflation in the country has eased to 5.02% after reaching a 15 month peak in July. Notably, it is still above RBI's mean target of 4% after which it will likely consider easing interest rates.
Goldman Sachs backed insurance distribution platform InsuranceDekho raised $60mm led by MUFG, BNP Paribas Cardif and others. It is aiming to scale to $400mm in premium sold and a network of 200,000 insurance agents by the end of this financial year and has served 6mm users to date.
Subscription based insurance and wellness company Onsurity raised $24mm led by IFC and others. It reportedly serves 1mm+ users through its partnership with 5000 small businesses in India.
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