Varun Dua founded Acko in November 2016. The company received its IRDAI licence in September 2017 and began operations in 2018 with no agent network.
By 2018 it had raised about INR 2.74 billion, around $42 million, from Amazon, Accel, SAIF Partners and Catamaran Ventures. In October 2021 a $255 million Series D made it a unicorn at $1.4 billion.
Acko Drive launched in Bengaluru in 2019, an online car purchase portal followed in 2020, and car financing and maintenance were added in 2022. In FY25 revenue rose 35% to INR 2,837 crore and the net loss fell 37% to INR 424 crore.
In 2026 Acko prepared an IPO of up to $350 million, with a confidential filing planned for the second half of 2026 and a listing targeted for the first half of 2027.