Insurtech unicorn Acko is reported to be preparing for a potential initial public offering, with plans to raise between $300 million and $400 million through a public listing. The proposed IPO is expected to take place between 2026 and 2027, according to a media report.
The Bengaluru-based company is said to be in preliminary discussions with investment bankers. Formal pitch meetings are expected to begin in the coming month, followed by the appointment of bankers shortly after. These early steps signal the start of a structured process towards a stock market debut.
As per the report, the proposed issue is likely to include a mix of primary and secondary components. While fresh capital would be raised to fund future growth, part of the offering may allow some existing shareholders to partially monetise their investments.
IPO Planning Begins
Acko counts several global and domestic investors among its backers. These include General Atlantic, Multiples Alternate Asset Management, Amazon.com Inc., Accel, Elevation Capital, Munich Re Ventures, Catamaran Ventures, SAIF Partners, RPS Ventures and Intact Ventures.
The company has also attracted prominent individual investors over the years, including former India cricket captain MS Dhoni and Flipkart co-founder Binny Bansal. Since its inception, Acko has raised more than $450 million across multiple funding rounds.
Founded in 2016 by Varun Dua and Ruchi Deepak, Acko started as a digital-first insurer focused on simplifying insurance buying and claims through technology-led processes.
Business Expansion Path
Acko initially entered the market with motor insurance products and has gradually expanded into other segments. In recent years, the company has increased its focus on health insurance, working towards a more integrated model that includes medical testing, policy issuance and claims management.
The company has also built a strong presence in embedded insurance. It partners with more than 50 companies across sectors such as mobility, consumer electronics and financial services, including redBus, Zomato, HDB Financial Services and Urban Company.
In addition, Acko operates a group health insurance business catering to corporate clients, adding another revenue stream alongside its retail offerings.
Financial Performance Update
According to company disclosures, Acko has served over 78 million customers and has issued more than one billion insurance policies since it began operations. Its scale has grown alongside India’s increasing adoption of digital insurance platforms.
In the financial year 2024–25, Acko reported a reduction in consolidated net loss to Rs 424 crore, compared with Rs 667 crore in the previous year. During the same period, operating revenue increased to Rs 2,836 crore from Rs 2,106 crore in FY2023–24.
The improvement in revenue and narrowing losses come at a time when investors are closely watching the path to profitability among new-age technology companies.
Market Context Grows
Acko’s IPO planning comes amid strong momentum in India’s primary markets. In 2025, several technology-led companies, including Meesho, Pine Labs, Groww, PhysicsWallah, Ather Energy, Bluestone, Urban Company and Lenskart, collectively raised around $4 billion through public listings.
Regulatory approvals have already been granted to more than 30 companies for upcoming IPOs, indicating a crowded pipeline in the next two years.
The broader Indian insurance market is also expanding rapidly. According to India Brand Equity Foundation data, the sector is projected to reach $222 billion by 2025–26, supported by a compound annual growth rate of about 17 percent over the past two decades.
