India’s leading celebrity couple Virat Kohli and Anushka Sharma have jointly invested ₹ 2.2 crores in insurance start-up Digit.
The start-up, backed by a Canadian billionaire of Indian origin Prem Watsa, is raising an investment of $ 84 million. Kohli has invested ₹ 1.73 crore ($ 2.5 lakh approximately) and Anushka’s investment is ₹ 43 lakh ($ 60,000 approx.). Kohli and Anushka will jointly own a .25% stake in the company.
The funding reportedly has no brand integration association. The investment is made purely on the commercial merit of the company.
Digit works towards simplifying insurance for people.
Other major investors in this round of funding were TVS Capital, A91 Partners and Fearing Capital. The insurance start-up has close to 50 lakh customers and brings in around $300 million in premium. The company accounts for a 1.2% market share in the general insurance industry.
Star couple Virat Kohli and Anushka Sharma have invested a combined ₹2.2 crore in Canadian billionaire Prem Watsa backed start-up Digit, investment filing sourced from business intelligence platform paper.vc showed.
The investments by the star duo came as part of $84 million fund raising round concluded by Digit earlier this year which valued the three year old start up at $870 million.
Digit is one of the faster growing general insurers in the country posting a premium income of $172 million in FY19 as per IRDAI data. Goyal said that it expects to nearly double its business to $325 million in the ongoing fiscal year.