Yashish Dahiya sold 26 lakh shares at ₹1,751 per share, generating proceeds of ₹455.3 crore. Meanwhile, Alok Bansal offloaded 12 lakh shares at the same price, securing ₹210.1 crore from the transaction.

Notably, the stake sale follows Tencent’s complete exit from the insurtech company. The Chinese technology giant recently divested its entire 1.05% holding in PB Fintech for ₹805.4 crore. Institutional investors, including Goldman Sachs, Morgan Stanley, and Tata Mutual Fund, acquired the shares.

The block deal price represented a 2.8% premium over PB Fintech’s previous closing price on the Bombay Stock Exchange (BSE). Despite the latest dilution, both cofounders continue to hold significant stakes in the company. As of March 2026, Dahiya owns 1.8 crore shares, representing a 3.86% stake, while Bansal holds 53.8 lakh shares, equivalent to 1.2% ownership.

This is not the first time the founders have monetized a portion of their holdings. In June 2025, Dahiya and Bansal sold shares worth nearly ₹920 crore. The latest transaction reflects a broader trend of profit-booking by promoters and investors as PB Fintech’s stock has delivered strong gains in recent months.

Over the past three months, PB Fintech shares have climbed more than 15.5%. However, the stock remains under pressure on a year-to-date basis, declining more than 6% despite the recent rally.

On the financial front, PB Fintech reported strong earnings growth for the fourth quarter of FY26. The company posted a 54% increase in consolidated net profit, reaching ₹261.2 crore compared to the corresponding period last year. Additionally, operating revenue rose 37% year-on-year to ₹2,061 crore, highlighting continued momentum across its business segments.

Despite the positive financial performance, PB Fintech shares closed at ₹1,702.5 in the latest trading session, down 4.56%.

The latest block deal by PB Fintech cofounders Yashish Dahiya and Alok Bansal underscores ongoing profit-taking amid strong institutional demand for the company’s shares. While the transaction follows Tencent’s recent exit and marks another round of promoter stake dilution, the founders continue to retain meaningful ownership in the business. Backed by robust revenue growth and rising profitability, PB Fintech remains a closely watched player in India’s rapidly evolving insurtech and fintech landscape.

To move forward with the public issue, Acko has appointed Morgan Stanley, Kotak Securities, and ICICI Securities as book-running lead managers. Furthermore, the company plans to file its draft red herring prospectus (DRHP) before the end of June, thereby advancing its listing timeline in India’s capital markets.

Acko operates as a direct-to-consumer (D2C) digital insurer, offering general, health, and life insurance products while eliminating traditional agents and intermediaries. This model enables cost efficiency, faster policy issuance, and improved customer experience. The company was founded by Varun Dua, who previously built insurance distribution platform Coverfox. Acko secured its regulatory licence in 2017 and subsequently launched operations in 2018, positioning itself as a key player in India’s insurtech space.

Moreover, Acko has attracted strong backing from global and domestic investors, including General Atlantic, Multiples PE, Accel Partners, Elevation Capital, and Canada Pension Plan Investment Board. Collectively, these investors have infused over $583 million into the company, underscoring its growth potential and market relevance.

From an operational standpoint, Acko has demonstrated strong traction across key insurance segments. In FY26, the company underwrote motor insurance premiums worth Rs 1,186 crore and health insurance premiums of Rs 1,235 crore, highlighting its expanding footprint in India’s insurance market.

Financially, the company has shown steady progress toward profitability. In FY25, Acko reported total revenue of Rs 2,887 crore and a net loss of Rs 424 crore, as per filings with the Ministry of Corporate Affairs. However, it significantly reduced its losses from Rs 670 crore in FY24, indicating improved cost efficiencies and scaling of its business model.

As the company moves closer to public markets, its performance will likely serve as a benchmark for other fintech and insurance startups considering listings. If successful, the IPO could further strengthen investor sentiment toward technology-driven financial services and accelerate innovation in India’s insurance landscape.

Moreover, the partnership leverages Profinch’s expertise in OIPA implementation and system integration, enabling insurers to achieve core modernization while incorporating AI-powered functionalities. As a result, carriers can enhance operational efficiency and accelerate digital transformation.

Currently, Insillion serves more than 45 carriers and MGAs globally and is known for its product builder, distribution APIs, AI-driven workflows, and middleware that supports rapid product launches. At the same time, Oracle’s policy administration system offers a comprehensive, rules-based framework that manages the entire policy lifecycle. Additionally, Profinch operates in over 60 countries and brings deep domain expertise, ensuring seamless integration with existing systems while helping insurers reduce total cost of ownership (TCO).

Importantly, this partnership addresses a major industry challenge—managing multiple systems, integrations, and vendors. Therefore, it enables both greenfield and established carriers to modernize legacy infrastructure, speed up product deployment, and introduce AI-driven capabilities without replacing their existing core systems.

“Carriers need to innovate without disrupting their core operations. This partnership makes that possible,” said Mahavir, co-founder of Insillion. “By connecting Insillion’s APIs and AI features with OIPA through Profinch’s implementation, we give carriers a faster way to launch insurance products.”

Furthermore, Arun Mallavarapu highlighted the strategic value of the collaboration. “Our clients want the reliability of Oracle’s policy administration combined with robust, front-end capabilities,” he said. “By combining Insillion’s API-led capabilities with OIPA and Profinch’s accelerator-led implementation, we enable insurers to innovate while maintaining core system stability.”

The Insillion–Profinch partnership represents a significant step toward simplifying insurance technology ecosystems. By integrating AI-driven platforms with proven policy administration systems, the collaboration empowers insurers to innovate faster, reduce complexity, and remain competitive in an increasingly digital-first market.

The company will channel the fresh funds into bolstering technology, recruiting top talent, fortifying enterprise-grade security, and expanding AI-driven claims operations. Additionally, Plum aims to integrate seamlessly with HR and payroll systems. Meanwhile, it plans to widen its healthcare offerings, encompassing preventive care, primary care, mental wellness, and telehealth.

“We made a decision on day one that our north star would be the claims experience,” said Abhishek Poddar, co-founder and CEO, Plum. “This round gives us the capital to move faster on what we know works while expanding the platform across healthcare and employee benefits.”

Founded in 2019 by Poddar and Saurabh Arora, Plum delivers a robust employee health benefits platform. It enables companies to provide insurance and healthcare services effortlessly to their teams. Currently, Plum serves over 6,000 organizations—from nimble startups to giants like CRED, Meesho, PhonePe, and Swiggy—covering more than 600,000 employees.

Previously, the company raised $15 million in its Series A round in 2021, spearheaded by Tiger Global and supported by Peak XV’s Surge, Tanglin Venture Partners, Incubate Fund, and Gemba Capital. In FY25, Plum generated nearly Rs 70 crore in revenue and achieved six months of EBITDA profitability. This latest fundraise follows Plum’s milestone of its first full year of EBITDA and cash flow profitability, highlighting a promising shift toward sustainable growth in the insurtech landscape.

Since its launch, Plum has handled over 500,000 claims efficiently. It slashed median hospital discharge time to 47 minutes and shortened reimbursement turnaround to just 1.5 days. “Plum’s focus on claims and customer experience positions it strongly as enterprises increasingly prioritise employee wellbeing and efficient insurance delivery,” noted GV Ravishankar, managing director at Peak XV.

Plum’s strategic funding round not only fuels its technological edge but also cements its leadership in transforming employee health benefits. As businesses prioritize wellness and efficiency, the company stands poised for exponential growth, setting new benchmarks in India’s insurtech sector.

The startup plans to use the new capital to enhance product development and accelerate the adoption of its flagship Centralized Underwriting Risk Environment (CURE) across the insurance sector.

Pibit.AI noted that while insurance revolves around assessing risk, industry tools have not evolved quickly enough to support underwriters. Many teams still spend up to a third of their time on manual data entry, triage, and data enrichment. With submission volumes rising and the underwriting talent pool shrinking, the company emphasized that efficiency has become essential. Pibit.AI aims to make underwriting faster, more accurate, and more dependable.

Akash Agarwal, founder and CEO of Pibit.AI, said, “Pibit.AI was built around one idea: that AI should empower underwriters, not replace them. Too many systems prioritize speed over trust. We’re building something that’s transparent, explainable, and decision-ready—a system that gives underwriters confidence in every output while helping them move faster than ever before.”

Furthermore, CURE operates as a comprehensive system that optimizes the underwriting process by managing submissions, parsing documents, conducting research, analyzing risk, and coordinating workflows within a single environment.

The platform’s modules—ClearCURE for triage, DocumentCURE for document intelligence, and ResearchCURE for real-time data enrichment—enable underwriters to transform raw submissions into actionable decisions more quickly. RiskCURE assesses each account using portfolio-specific indicators, while WorkflowCURE brings together tasks, insights, and team collaboration in one integrated workspace.

Alok Goyal, Partner at Stellaris Venture Partners, said, “Underwriting has long been constrained by manual reviews, inconsistent data, and tools that haven’t kept pace with rising submission volumes. With CURE, Pibit.AI automates and unifies these workflows, improving accuracy, reducing costs, and accelerating quote generation to drive higher revenue. We’re excited to partner with Akash and lead Pibit.AI’s Series A round as it scales.”

Over the next 12 to 18 months, Pibit.AI plans to broaden its advanced risk models, API frameworks, and data partnerships so the CURE platform can better adapt to new business lines and emerging risk categories.

GreyLabs AI will use the newly raised capital to scale its recently launched Agentic Voice AI platform and expand operations in Bengaluru and Delhi. The company aims to grow from a base of 50+ financial institutions to 300 clients, while continuing to process millions of customer conversations.

“As of today we work with around 50 top BFSI clients. We are very heavy in the space. Our speech-to-text and language model are very much tuned for financial services… With this funding we are entering into the autonomous voice AI agent category,” said Aman Goel, co-founder and CEO of GreyLabs AI.

Founded by Aman Goel, Harshita Srivastava, Shivam Gupta, Raj Sanghavi, Debabrata Basak, and Shreyas Patel, the company builds AI-powered autonomous voice agents that help financial institutions automate contact center operations.

Goel previously co-founded Cogno AI, an enterprise startup that built AI-driven communication tools such as omnichannel chatbots, live chat, co-browsing, and video calling to improve customer engagement. Exotel acquired the startup in November 2021.

GreyLabs AI’s voice agents are equipped to handle a wide range of use cases across sales, customer service, collections, renewals, and PIVC, with multilingual support.

Since its inception 18 months ago, GreyLabs AI claims to have processed hundreds of millions of conversations for over 50 BFSI clients, including RBL Bank, AU Bank, IDFC FIRST Bank, Axis Finance, Motilal Oswal Financial Services, Fibe, SBI Life Insurance, Piramal Finance, ICICI Prudential Life Insurance, and Groww.

“Our vision from Day One has been to reimagine how conversations happen in BFSI,” said Goel. “Voice is the most natural interface for customers, but there has been little innovation in this space. We wanted to make conversations faster, more intelligent, and scalable while maintaining compliance and empathy.”

Vaas Bhaskar, Partner at Elevation Capital, added, “Over the past year, we’ve seen GreyLabs AI go from a bold vision to a product already delivering measurable outcomes for some of the largest players in BFSI.”

The company stated that it will utilize the fresh funds to strengthen its voice agent technology stack, boost BFSI adoption, and grow its team and infrastructure footprint.

“We are going to invest heavily in research and development. We have set up our R&D center in Bangalore, and our sales offices are in Gurgaon, NCR, and our leadership team is in Mumbai. So we will be looking to double down on the R&D center and will be building a team here,” Goel said.

Moreover, GreyLabs AI’s product portfolio includes its flagship Voice AI Agents, speech analytics, and AI-powered email analytics, all designed to automate communication workflows for banks and insurers.

Headquartered in Mumbai, the company currently operates offices in Bengaluru and Delhi.

“The filing of the pre-filed draft red herring prospectus shall not necessarily mean that the company will undertake the initial public offering,” the company, in its public announcement published in a business newspaper, said.

The tech-driven platform bridges customers, insurance advisors, and insurers, offering health, life, and motor insurance products, along with financial services such as mutual funds and loans.

Founded by Dhirendra Nalin Mahyavanshi and Anand Rohidas Prabhudesai, Turtlemint Fintech Solutions has enabled the distribution of over 1.6 crore insurance policies across 19,105 pin codes between FY 2023 and FY 2025. Its network includes more than 4 lakh POSPs (point-of-sale persons), 4.3 lakh trained insurance advisors, and partnerships with over 42 insurance companies.

Turtlemint counts marquee investors such as Nexus Venture Partners, Jungle Ventures, Peak XV Partners (formerly Sequoia Capital India), and Blume Ventures among its backers. According to market experts, the confidential pre-filing route provides companies greater flexibility and less pressure to go public, enabling engagement with a limited pool of institutional investors ahead of the IPO.

Unlike the traditional process, which requires launching an IPO within 12 months of SEBI’s approval, the pre-filing mechanism allows companies up to 18 months from SEBI’s final observations. It also offers the option to revise the primary issue size by as much as 50 percent until the Updated Draft Red Herring Prospectus (UDRHP) stage. Turtlemint operates in the same space as PB Fintech, the parent company of Policybazaar, which raised ₹5,710 crore in its November 2021 IPO and now trades nearly 86 percent above its issue price of ₹980 per share.

The company’s IPO roadshow comes on the heels of impressive listings from eToro and Circle, signaling a renewed investor interest in public offerings after months of stagnation due to U.S. policy uncertainty.

According to a filing made on Monday, Slide and certain existing shareholders plan to raise up to $340 million by offering 20 million shares, priced in the range of $15 to $17 each.

Analysts note that insurers tend to be more resilient during market downturns, as increased uncertainty often drives greater demand for risk-mitigation products. Additionally, sectors centered around intellectual property continue to capture investor interest.

Apollo-backed Aspen Insurance and Florida-based American Integrity Insurance recently completed their IPOs, while specialty insurer Ategrity plans to go public later this week.

Founded in 2021, Slide provides insurance products for families and condominiums in Florida and South Carolina. The company is led by Bruce Lucas, the former founder and CEO of Heritage Insurance.

Regulatory filings reveal that 99.5% of Slide’s policies are currently based in Florida, a state where the company plans to expand its presence—despite other insurers retreating from the region due to its vulnerability to natural disasters, particularly hurricanes.

Slide reported a 69.1% surge in profit, reaching $92.5 million for the quarter ended March 31. Its combined ratio improved to 58.9%, down from 66.7% a year earlier—indicating strong underwriting performance, as a ratio below 100% means the insurer collected more in premiums than it paid out in claims.

Barclays and Morgan Stanley are acting as the lead underwriters for the IPO.

Slide’s shares are expected to debut on the Nasdaq under the ticker symbol “SLDE.”

The funding round included contributions from Portage, BlackRock, and Columbia Lake Partners. The capital—comprising a mix of equity and debt—will be used to expand Marshmallow’s car insurance product offerings and fuel its ambitions for international growth.

Oliver Kent-Braham, Co-CEO and Co-founder of Marshmallow, said: “Our ambition is to become a one-stop-financial-shop for newcomers so they feel as though it’s easy to move to, and live in, a different country. We’ve already supported over one million people in the UK with their insurance needs, but we’re only just scratching the surface. There are still major financial services barriers that make it harder for newcomers to settle and take part in everyday life. This funding gives us the capital to solve these problems and deliver against our mission.” 

Marshmallow, a UK-based FinTech company, is on a mission to make life easier and more affordable for those relocating to a new country. Founded in 2017 by twins Alexander and Oliver Kent-Braham, along with software engineer David Goaté, Marshmallow was created to help newcomers to the UK access fair and affordable car insurance.

To date, the company has provided car insurance coverage to over one million customers, with the majority being individuals new to the UK. Achieving unicorn status in 2021, Marshmallow now boasts a turnover run rate exceeding €439 million and a team of 700 employees spread across London and Budapest. The company continues to focus on delivering tech-first financial solutions tailored to the needs of people moving between countries.

Marshmallow believes that immigrants often face unfairly high insurance costs compared to native residents. By leveraging its proprietary technology and customer data, Marshmallow aims to offer better value and more inclusive financial services for this underserved demographic.

With this latest round of funding, Marshmallow plans to broaden its services to address a wider range of unmet financial needs faced by newcomers, aiming to become a comprehensive, one-stop financial services platform for people relocating to the UK.

Looking ahead, Marshmallow also intends to expand internationally, developing and offering financial products for individuals who have moved to countries beyond the UK, furthering its mission to support globally mobile populations.

Devon Kirk, General Partner & Co-Head, Portage Capital Solutions, commented: “Marshmallow is a clear leader in innovating to solve important financial challenges for consumers. We are confident in the business’ ability to continue developing solutions for a fairer financial ecosystem, and we are excited to support this strong team as it enters its next stage of growth.”

“We have been strong believers in InsuranceDekho’s vision since our initial investment,” said Sagar Agarwal, Founder & Partner at Beams Fintech Fund, in a statement. “Their phenomenal growth, robust distribution network, and relentless focus on technology-driven accessibility make them a clear industry force.”

This marks Beams Fintech Fund’s second investment in 2025, following a Rs 200-crore pre-IPO investment in one of India’s largest unlisted NBFCs specializing in used commercial vehicle finance. The firm has already invested over Rs 300 crore this year and is in advanced discussions to support an MSME micro-LAP lender. 

According to filings with the Ministry of Corporate Affairs from January, InsuranceDekho recently secured funds in a round led by Beams Fintech Fund 1, MUFG Bank Ltd., and C. Development (a French limited partnership). MUFG Bank led the investment with Rs 49.3 crore, followed by C. Development with Rs 63.22 crore and Beams Fintech Fund 1 with Rs 9.4 crore. These firms collectively acquired 4.33 million shares of InsuranceDekho for Rs 121.94 crore through a private placement of 4,339,885 equity shares, each priced at Rs 10 face value with a premium of Rs 270.98 per share.

CarDekho Group, the parent company of InsuranceDekho, reported a net revenue of Rs 2,074 crore for FY24, marking a 54% increase from Rs 1,347 crore in FY23 (adjusted for discontinued used car sales). The growth was mainly driven by the group’s diversified portfolio, particularly its insurtech arm, InsuranceDekho, and fintech platform, Rupyy.

CarDekho achieved standalone profitability for the first time, posting a profit of Rs 37 crore (before exceptional items) in FY24, a significant turnaround from a loss of Rs 143 crore in FY23. Consolidated losses also shrank to Rs 340 crore, compared to Rs 562 crore in the previous year.