New Delhi: India captain Virat Kohli-backed Indian fintech startup Digit reached USD 3.5 billion valuation after a fresh funding round on Friday. The company took to Twitter to confirm the news. ‘Trust is the heaviest word we know. We carry it in our hearts. It sets us free to touch the skies. A little poetic? Can’t help, this news can turn anyone into Keats 🙂 Thank You to our employees, partners, customers and investors. #thankyou,’ the tweet read.Also Read - Virat Kohli Could be 'Removed as RCB Captain Mid-Way' Through IPL 2021: Ex-India Cricketer
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After raising USD 200 million from existing and new investors, the company is now valued at USD 3.5 billion in what happens to be one of the biggest funding rounds in the insurance sector. The company, only recently in the month of January had become a unicorn after it was valued at USD 1.9 billion. According to a report in Bloomberg, it had almost doubled its valuation after raising a total of USD 442 million. In order to expand its base in India, Digit will make the process of buying cover, submitting claims and receiving payments a lot easier. The startup caters to health, travel and auto insurance. Also Read - Virat Kohli Gives Motivational Talk After Thumping Loss vs KKR, Video Goes Viral | WATCH
Formally known as the Go Digit General Insurance Co., the company had said that the latest funding round is subject to regulatory approvals. The first investor of the company was an Indian origin Canadian billionaire Prem Watsa who had early backing from Kohli and TVS Capital Funds.