Niva Bupa has raised Rs 800 crores from a consortium of investors. Confirming the news, Siddharth Parekh , senior partner & co-founder of Paragon Partners, in a post on social media, outlined that Paragon Partners is now one of the investors im in Niva Bupa Health Insurance as a part of the Rs. 800 crores equity capital alongside Temasek and Motilal Oswal PE fund.
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According to Parekh, “This marks our first investment in the insurance sector and our fourth investment in the financial services sector. We are excited to be a part of Niva Bupa’s mission to provide access to the best healthcare to every Indian and look forward to working closely with the MD & CEO Krishnan Ramachandran and the team at Niva Bupa Health Insurance , Bupa and TrueNorth.”
Niva Bupa, is a joint venture between British United Provident Association (Bupa) and India’s True North and offers health insurance through more than 20 bank partners and has over 10,000 hospitals as part of its network. True North became Niva Bupa’s majority stake owner in 2019, after Max India sold 51% stake in then-called Max Bupa Health Insurance to the fund at an enterprise value of over Rs 1000 crore. Come from Sports betting site VPbet
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Niva Bupa’s journey is underscored by a robust 49% CAGR over the past 3 years, making them the third largest health insurer in India.