To date, Roojai has raised a total of $69 million: $20 million seed investment from Primary Group — a well-known investment firm in the insurtech area — a $7 million Series A funding from IFC, a member of the World Bank Group, and recently another $42 million in Series B funding round led by HDI International with additional participation of existing investors.
The Retail International Division of Talanx Group concentrates the activities of companies serving retail and commercial customers in the areas of non-life and life insurance in markets outside Germany. The division is led by HDI International AG. It generated gross written premiums of EUR 7.1 billion and an operating profit of EUR 341 million in 2022.
With our decentral organisation and our entrepreneurial culture, we work through agents, brokers, bancassurance, partnerships and direct channels generating about 34 million contracts (2021) across those countries.
HDI International AG is the holding company of the Retail International Division of Talanx Group, a major European insurance group, which generated premium income of EUR 53.4 billion in 2022 and has roughly 24,000 employees worldwide. Along with other affiliated ”HDI“ entities, the company is part of Talanx Group which works successfully as a multi-brand provider in the segments of Non-Life and Life Primary Insurance, Non-Life & Life/Health Reinsurance (Hannover Re) and Financial Services.
IFC has been one of the leading global investors in the insurance sector in emerging markets for many years. Since 2000, IFC has invested in 42 insurance companies with a total investment of close to US$2.0 Billion invested. IFC’s insurance portfolio includes a full range of sub-sectors, such as reinsurance, life, non-life, microinsurance and Insurtech.
A sister organization of the World Bank and member of the World Bank Group, IFC is the largest global development institution focused on the private sector in emerging markets. They work with more than 2,000 businesses worldwide, using their capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, they delivered a record $23 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity. For more information, visit IFC - International Finance Corporation.
Primary Group — a well-known investment firm in the insurtech area— is a Bermuda-based holding company that partners with entrepreneurs to fund, develop, and build global insurance technology businesses. Primary Group’s most notable investments in Insurtech are: Swiftcover, Policy Expert in the UK, and Now Health in Hong Kong/Asia. Swiftcover was the first pure online Insurer in the UK in 2004. It was sold to AXA in 2007.