Acko Technology and Services Pvt. Ltd, a Mumbai-based financial technology startup, has raised a $12 million investment round.

Since its founding in 2016, Acko has formed partnerships with companies like Ola to expand its customer-base and has raised equity funding worth $42 million. The startup also received its Insurance Regulatory and Development Authority in 2017.

Founded by Varun Dua as an online platform to assist with insurance needs ranging from technology and vehicles to insurance for trips.

Amazon India led the most recent funding round worth $12 million, which saw participation from other investors as well. Ashish Dhawan and Catamaran Ventures are among investors in the funding round. In the past Dua has also mentioned the startup’s possible interest in the health insurance sector, Livemint reported.

Past investors in the company include Accel Partners, SAIF Partners, and Kris Gopalakrishnan.

“Acko is a young and nimble startup bringing technology and data-led innovation to the insurance sector to deliver better experience for customers,” Amazon India Senior Vice-President, Amit Agarwal said, as reported by Livemint. “We are excited to back companies that are focused on using technology for enhanced customer experience and are led by missionary founders and management teams.”

The funding round comes around a year after the startup’s seed fund round worth $30 million.

(Picture courtesy: Acko)