Munich Re Ventures is in the final stages of leading an up to $70 million financing round in Acko Technology and Services Pvt. Ltd at a valuation of up to $500 million, people in the know told The Economic Times.
Existing investors including Amazon, RPS Ventures and Intact Ventures may participate in the round, the people said adding that the investment may close in a month.
Previously, in November 2019, the company raised $20 million from existing investor Binny Bansal, the co-founder of Flipkart and also received $16 million in a bridge round of funding from Ascent Capital a couple of months before that. The bridge round witnessed participation from Ventureast Fund as well.
In February 2019, the company raised $65 million in its Series C round of funding from a clutch of investors at a valuation of about $300 million.