Acko raises $36 million

Digital insurer Acko has raised $36 million from Ascent Capital and Indian billionaire-slash-cofounder of  Flipkart, Binny Bansal, bringing its total funding to date to $143 million. The news follows a $65 million Series C round announced in March.

Founded in 2016 by Varun Dua, Acko’s distribution strategy incorporates a direct-to-consumer approach, along with offering “innovative and bite-sized insurance products” such as rider insurance, mobile and appliance protection, and ticket cancellation.

Finally, the company has distribution arrangements with Amazon, Ola and OYO.

Bottom Line: Digit is watching.