Go Digit Insurance is a private digital insurance firm located in Bengaluru. For an initial public offering (IPO), it will file its draft Red Herring Prospectus in August.
Go Digit Insurance was established by Kamesh Goyal in 2016 and is primarily supported by the Ontario-based parent firm Fairfax Financial Holdings Limited. Prem Watsa, an Indian-Canadian billionaire and the creator of the holdings, is now in charge of Fairfax.
At this time, Go Digit Insurance aims to raise 5000 crore rupees by issuing 15% of its equity shares.
The firm changed its strategy in 2021 when it received its first external investment by raising 84 million dollars from investors, including A91 Partners, Faering Capital and TVS Capital. Previously, Kamesh Goyal and Fairfax were handling the company's finances internally. As a result, the company's entire valuation increased from 350 million dollars to 870 million dollars due to the first external financing.
Soon after, in 2021, Virat Kohli, the captain of the Indian cricket team at that time and Bollywood star Anushka Sharma invested approximately 2.5 cores in this insurance company. The insurance start-up gave the pair 3.33 lakh equity shares in the business in return.