About Magma HDI General Insurance
Magma HDI General Insurance is a company based in Mumbai (India) founded in 2012 by Mayank Poddar. It operates as a B2C. The company has 2,005 employees as of March 31, 2024. Magma HDI General Insurance operates in a competitive market with competitors including ICICI Lombard, Bajaj Finserv, SarvaGram, Bajaj Allianz General Insurance and Reliance General, among others.
- Headquarter Mumbai, India
- Employees 2005 as on 31 Mar, 2024
- Founders Mayank Poddar
- Stage Public
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Magma General Insurance Limited
- Date of Incorporation 26 Jun, 2009
- Jurisdiction Kolkata, West Bengal, India
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Annual Revenue
$0 (USD)0as on Mar 31, 2024
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Net Profit
$0 (USD)0as on Mar 31, 2024
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EBITDA
$0 (USD)0as on Mar 31, 2024
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Latest Funding Round
$58.03 M (USD), Post-IPO
May 31, 2022
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Investors
Morgan Stanley
& 18 more
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Employee Count
2005
as on Mar 31, 2024
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Funding Insights of Magma HDI General Insurance
- Total Funding Total Funding
- Total Rounds 4
- Last Round Post-IPO — $58.0M
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First Round
First Round
(22 May 2019)
- Investors Count 19
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2022 | Amount | Post-IPO - Magma HDI General Insurance | Valuation | Sanoti Properties |
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| Mar, 2021 | Amount | Post-IPO - Magma HDI General Insurance | Valuation | ICICI Venture , Morgan Stanley |
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| Apr, 2020 | Amount | Post-IPO - Magma HDI General Insurance | Valuation | Poonawalla Fincorp |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Magma HDI General Insurance
Magma HDI General Insurance has secured backing from 19 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Morgan Stanley, Serum Institute of India and Poonawalla Fincorp. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Alternative asset management and investment services in India.
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Founded Year | Domain | Location | |
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Wealth management, investment advisory, and financial services are provided.
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Founded Year | Domain | Location | |
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Financial service company offering diversified loans for consumers
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Magma HDI General Insurance
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Magma HDI General Insurance
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Magma Hdi General Insurance Comparisons
Competitors of Magma HDI General Insurance
Magma HDI General Insurance operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as ICICI Lombard, Bajaj Finserv, SarvaGram, Bajaj Allianz General Insurance and Reliance General, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Life, health, and general insurance services are provided across India.
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| domain | founded_year | HQ Location |
Financial solutions including loans and insurance are offered.
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| domain | founded_year | HQ Location |
Provider of home, personal, farm and business loans
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| domain | founded_year | HQ Location |
Offers insurance for health, vehicles, travel, life, and commercial needs.
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| domain | founded_year | HQ Location |
General insurance services are provided across India by Reliance General.
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| domain | founded_year | HQ Location |
General Insurance
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Magma Hdi General Insurance
Frequently Asked Questions about Magma HDI General Insurance
When was Magma HDI General Insurance founded?
Magma HDI General Insurance was founded in 2012 and raised its 1st funding round 7 years after it was founded.
Where is Magma HDI General Insurance located?
Magma HDI General Insurance is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
How many employees does Magma HDI General Insurance have?
As of Mar 31, 2024, the latest employee count at Magma HDI General Insurance is 2,005.
What does Magma HDI General Insurance do?
Magma HDI General Insurance, led by Mayank Poddar as Co-Founder, Sanjay Chamria as Managing Director, specializes in offering financial products and advice, offering insurance products, health insurance, and general insurance. Operates as a health and general insurance provider. The team drives innovation, quality service, and sustainable practices to achieve excellence and client satisfaction.
Who are the top competitors of Magma HDI General Insurance?
Magma HDI General Insurance's top competitors include ICICI Lombard, Bajaj Finserv and SarvaGram.
Who are Magma HDI General Insurance's investors?
Magma HDI General Insurance has 19 investors. Key investors include Morgan Stanley, Serum Institute of India, Poonawalla Fincorp, ICICI Venture, and Sanoti Properties.
What is Magma HDI General Insurance's valuation?
The valuation of Magma HDI General Insurance is $261.12M as of May 2022.