ASEGO Global Assistance, which provides travel assistance and insurance solutions, has sold a significant minority stake to mid-market private equity firm Xponentia Capital, the company said.
People familiar with the matter said Xponentia has invested around ₹175 crore to acquire approximately a 25-30% stake in ASEGO through a mix of primary and secondary stock.
Founded in 2018 by Devinjit Singh (former MD, Carlyle India) and Perumal R Srinivasan (formerly with Citigroup Venture Capital Partners), Xponentia Capital manages $200 million of investor capital across Xponentia Opportunities Fund-1 and Xponentia Opportunities Fund-2.
“We believe ASEGO is uniquely positioned to capitalise on the rising demand for embedded assistance solutions in travel,” said Bhavya Kapoor, managing director, Xponentia Capital.
ASEGO operates across the travel value chain, offering global assistance services such as doctor-on-call, emergency medical support and evacuation, baggage tracking, and travel insurance in partnership with insurers.
The company protects over three million travellers annually and works closely with travel agencies, airlines, online travel agencies (OTAs), travel management companies (TMCs), visa facilitation centres and education consultants.
The company plans to achieve ₹350 crore revenue in FY26 with 15% EBITDA margin, added sources.
“The travel assistance market is a highly specialised, niche segment with a large addressable opportunity,” said Dev Karvat, founder and chief executive officer of ASEGO. “This investment will support our next phase of expansion.”
Source: Economic Times