We are very happy to bring you the exciting news that WI Harper-backed Roadzen and Vahanna Tech Edge Acquisition I Corp. successfully completed their business combination on September 20, 2023. This marks an important milestone in the evolution of insurance technology and innovation.
As of September 22, 2023, Roadzen will commence trading on the Nasdaq stock exchange. The company’s ordinary shares will be listed under the ticker symbol “RDZN,” and its warrants will trade under “RDZNW.” This represents not only a whole new chapter for Roadzen but also an opportunity for investors to participate in its promising future. Being one of its earliest and most significant investors, WI Harper Group’s investment team was invited to attend the listing ceremony.
Roadzen, Inc. is on a mission to revolutionize the insurance experience for drivers worldwide. The company is committed to providing lower premiums, enhancing on-road safety, and streamlining claims processing. It has developed a groundbreaking technology platform that leverages telematics, computer vision, and AI to reshape the insurance value chain. Known as the Roadzen “Insurance as a Service” (IaaS) platform, this innovative solution impacts every aspect of insurance, from underwriting and distribution to claims processing. With such focus on innovation and technology, Roadzen aims to transform the traditional insurance landscape.
Since discovering and investing in Roadzen as early as 2017, WI Harper Group has not only facilitated the introduction of new investors but has also leveraged its three decades of cross-border resources to assist Roadzen in its global expansion efforts. This includes establishing joint ventures in China and expanding into markets such as India, the United States, and the United Kingdom. As a result, Roadzen has become the only insurance tech company with a presence spanning the United States, China, Europe, and India.
Even after Roadzen’s successful listing, WI Harper Group retains its board seat and holds a substantial double-digit percentage of the company’s shares, making it one of the largest external investor shareholders in the company.