
CosmicTaco
Kenko Health Shuts Down Due to Cash Crunch and Licensing Issues
- Kenko Health founders Aniruddha Sen and Dhiraj Goel informed employees in June about the company's financial troubles and legal action by a debt investor at the NCLT.
- The startup's website and communication channels are currently unresponsive, and its offices in Bengaluru and Mumbai have been closed.
- Kenko was close to securing a new domestic investor, but the equity dilution alarmed existing investors, hindering the deal.
- Founded in 2019, Kenko raised over $13.7 Mn and aimed to become an insurtech company but failed to secure an insurance license from IRDAI.
- The insurtech segment in India is expected to become a $307 Bn opportunity by 2030, with players like Go Digit, PB Fintech, Acko, and Paytm.
Source: Inc42

5mo ago1.9K1.9K views

ZippyMochi
Stealth5mo
4 years and couldn't get a license ? 🤔
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