Digit Insurance has become the latest member of the unicorn club with a fresh raise of funds from existing investors.
Bengaluru-based Digit kicked off a new round in which the company allotted 78.5 lakh equity shares at the price of Rs 172 per share to raise Rs 135 crore from Faering Capital, TVS Shriram Growth Fund and A91 Partners, who have invested Rs 45 crore each.
According to sources, Digit is also at the final stage to raise $80 million in the fresh round from existing investors. Times of India report secure its valuation at $1.9 billion. It’s worth noting that it was valued at $870 million when it raised its first external round in 2020. This will be the second external round for Digit, which raised $84 million from Faering Capital, TVS Capital and A91 Partners in last year.
