Azki

Entity IDIR-CO-042

SectorFintech

Founded2018

HQTehran

VerificationReported

Last reviewed2026-09-11

Online insurance comparison and purchase platform. Tehran Index record: founded 2018, headquartered in Tehran, part of MAX Holding.

Doing business with Azki? Check who legally owns and runs it: registry identity, capital and current board from the Official Gazette, in English with the Persian source, in three working days for USD 750. Full dossier with audited figures and competitors, USD 3,000. Order a Azki registry check · see a free sample

Decision snapshot

Founded

2018, per Max Holding's own portfolio page.

UnresolvedThird-party reported

Max Holding portfolio (maxholding.co) ↗ · retrieved 2026-07-27

Market position

Online insurance comparison and purchase platform; its investor MAX Holding puts its share of the online insurance services market at more than 80 per cent

Undated portfolio page, read 28 September 2026Third-party reported

MAX Holding portfolio page, Azki entry, maxholding.co ↗ · retrieved 2026-09-28

Parent / group

Portfolio company of Max Holding (VC holding company, est. 2019 to 20), founded by the same person who founded Azki

CurrentThird-party reported

way2pay.ir; maxholding.co portfolio listing ↗ · retrieved 2026-09-28

Every field carries an explicit evidence state and its source. Self-reported figures are labelled as such; nothing is presented with more certainty than its source supports.

Operating metrics, period-stamped

Motor hull insurance, share of salesYear to 20 March 2026Company disclosed

10.3 per cent

Azki annual report for the year to 20 March 2026 · retrieved 2026-10-08The chart does not say whether the share is of policy count or of premium value.

HeadcountAt 20 March 2025Company disclosed

624

Azki annual report for the year to 20 March 2026 · retrieved 2026-10-08Staff at the end of the year.

Purchases paid in instalments with no down paymentYear to 20 March 2026Company disclosed

22 per cent

Azki annual report for the year to 20 March 2026 · retrieved 2026-10-08Purchases paid in instalments with nothing paid up front, a buy now pay later model.

Azki Seller active sellersYear to 20 March 2026Company disclosed

More than 82,000

Azki annual report for the year to 20 March 2026 · retrieved 2026-10-08Azki Seller is the company's platform for independent insurance sellers and marketers; these are sellers, not staff.

Order rate on the busiest dayOn 16 March 2026Company disclosed

One order every 6 seconds

Azki annual report for the year to 20 March 2026 · retrieved 2026-10-08A peak-day rate on the company's best-selling day of the year, not an average.

Third-party orders bought above the minimum coverYear to 20 March 2026Company disclosed

73 per cent

Azki annual report for the year to 20 March 2026 · retrieved 2026-10-08Share of third-party motor orders on the platform where the buyer chose cover above the legal minimum.

Azki Seller active sellers, year-on-year changeYear to 20 March 2026Company disclosed

187 per cent increase

Azki annual report for the year to 20 March 2026 · retrieved 2026-10-08

Purchases paid in instalments with a down paymentYear to 20 March 2026Company disclosed

32 per cent

Azki annual report for the year to 20 March 2026 · retrieved 2026-10-08Part of the 54 per cent of purchases paid in instalments; the other part is the 22 per cent paid with no down payment.

Tehran's share of instalment purchasesYear to 20 March 2026Company disclosed

42.30 per cent

Azki annual report for the year to 20 March 2026 · retrieved 2026-10-08Tehran province's share of the company's instalment purchases, not of all its sales. Alborz, Khorasan Razavi, Isfahan and Fars follow.

Previously uninsured buyers who paid in instalmentsYear to 20 March 2026Company disclosed

72 per cent

Azki annual report for the year to 20 March 2026 · retrieved 2026-10-08Of buyers who had no active policy before buying, 72 per cent paid in instalments. It is not a share of all users.

Purchases made on holidays and weekendsYear to 20 March 2026Company disclosed

More than 30 per cent

Azki annual report for the year to 20 March 2026 · retrieved 2026-10-08

Survey respondents scoring the company 9 or 10 out of 10Year to 20 March 2026Company disclosed

81 per cent

Azki annual report for the year to 20 March 2026 · retrieved 2026-10-08Post-purchase survey on a 0 to 10 scale; a yearly average of the share of respondents giving 9 or 10.

Third-party motor insurance, share of salesYear to 20 March 2026Company disclosed

74.2 per cent

Azki annual report for the year to 20 March 2026 · retrieved 2026-10-08The chart does not say whether the share is of policy count or of premium value.

HeadcountAt 20 March 2026Company disclosed

1,274

Azki annual report for the year to 20 March 2026 · retrieved 2026-10-08Staff at the end of the year. The company had 624 a year earlier.

Users2025-26, 21 March 2025 to 20 March 2026Company disclosed

More than 8 million registered users; new users in the year put at roughly 700,000 (the report says the number would fill about seven 100,000-seat stadiums)

Azki annual report 1404, "Azki at a glance" and "untold" sections ↗ · retrieved 2026-09-11Registered users, not active buyers; the report does not define "user". The new-user figure is the report's own stadium comparison converted at 100,000 a stadium, so it is approximate by construction. PDF of the report: annualreport1404.azki.com/pdf/Azki Annual Report 1404.pdf (50 MB), not yet read page by page.

Instalment share of purchases21 March 2025 to 20 March 2026Company disclosed

54 percent of insurance purchases on the platform were paid in instalments, with instalment purchases overtaking cash payments

Azki annual report 1404, "Azki at a glance" ↗ · retrieved 2026-10-06Share of purchases by count or by value is not stated. The instalment product is AzkiVam, which has its own record.

Service and engagement figures21 March 2025 to 20 March 2026Company disclosed

1,652,000 support calls handled · NPS +71 · more than 7 million vehicle plates queried · users check the comparison page more than 4 times on average before buying

Azki annual report 1404, "Azki at a glance" and "untold" sections ↗ · retrieved 2026-09-11NPS method and sample not stated. Plate queries count lookups, not policies.

Growth outside motor insurance2025-26Company disclosed

Mobile-phone insurance +225 percent, fire +198 percent, medical liability +114 percent, year on year

Azki annual report 1404, "growth beyond motor insurance" ↗ · retrieved 2026-10-06Percentages only; the base volumes are not given, so small lines can show large growth. Motor insurance remains the core and its own growth is not stated on the microsite.

Market context as stated by the company2025-26Company disclosed

Iran: insurance penetration 2.5 percent of GDP, online insurance purchase index 3.6 percent; the report's comparison table gives the United States 11.6 and 47 percent, the United Kingdom 11.7 and 25, Germany 5.6 and 22, Japan 7.4 and 12, China 4.4 and more than 10, France 11.3 and more than 20

Azki annual report 1404, "insurance in Iran and the world" ↗ · retrieved 2026-09-11The report does not name its sources for the international figures or define the online purchase index beyond a sentence; recorded as the company's framing, not as market data verified by Tehran Index.

Business model & group

Azki Sarmayeh, a product launched with DaranLaunch reported 16 August 2023Third-party reported

Azki Sarmayeh, a product for comparing options in the capital market, was launched as a new Azki product created in partnership with Daran, which joined Azki at a valuation of about 30 to 40 billion toman, as Digiato reported at the launch.

Digiato, launch report for Azki Sarmayeh, 16 August 2023 ↗ · retrieved 2026-10-02Digiato's launch report names Azki Sarmayeh only. The valuation is in toman as printed in August 2023, with no dollar conversion.

Physical network (Azki centres) and Azki Seller2025-26Company disclosed

162 active Azki centres, described as the point where online comparison meets in-person advice; Azki Seller presented as the insurance sales infrastructure

Azki annual report 1404, "Azki Seller, the insurance sales infrastructure" ↗ · retrieved 2026-10-06A marketplace adding a physical channel; comparable in direction to Digikala's pickup points and Snapp's offline counters, recorded here without inference.

HeadcountAs at the report, 2025-26Company disclosed

More than 1,200 people, from a six-person team in 2016 (2016-17); 53 percent women

Azki annual report 1404, people section ↗ · retrieved 2026-09-11The report dates the founding team to 1395 (2016); the record carries founded 2018 from Max Holding's portfolio page. Both are shown; the difference is between team formation and company launch and is not resolved here.

Leadership

Founders, founding year and the Bimito merger, per investor MAX HoldingPage read 2 October 2026Third-party reported

MAX Holding, an investor in Azki, lists three founders on its portfolio page: Aidin Mohammadhosseini, Hamed Valipouri and Armin Mohammadhosseini. The same page gives Azki's founding year as the year from 21 March 2018 to 20 March 2019, and says Azki merged with Bimito, another online insurance service, in the year from 21 March 2017 to 20 March 2018, putting its share of online insurance services at more than 80 percent.

MAX Holding portfolio page for Azki, maxholding.co ↗ · retrieved 2026-10-02The investor's portfolio page is the only source quoted here. It dates the Bimito merger a year before Azki's own founding year, an inconsistency the page does not explain. It names no chief executive.

Corporate family

MAX Holding

AdilarHR Tech Azki SarmayehFintech AzkiVamFintech BarolineLogistics ChapAghaE-commerce DoctorPayFintech DoctorToHealthtech GMaxAdsMedia Khodro45E-commerce Mammut System (msys)Enterprise SW Max DentalHealthtech Max DigitalFintech OtobanE-commerce VaranegarEnterprise SW Vira Chemists (Shimidanan Vira)Healthtech YoutopinTravel

Tracked entities in the same corporate family. Ownership percentages appear in Ownership & capital only when disclosed.

Ownership & capital

Brand to operator, stated by the company itselfCompany disclosed

The company's own page names تجارت الکترونیک نوین نار as the operator behind the brand. The passage is quoted verbatim in the source passage.

azki.com (company website) ↗ · retrieved 2026-09-17Corroborated: two independent reads of this page returned the same sentence.

Registered capital (latest Official Gazette capital notice)Latest capital notice, published 28 May 2026; notices checked to 28 May 2026Official record

The most recent capital notice in the Official Gazette, published in gazette 23641 (Tehran edition) on 28 May 2026, records an extraordinary general meeting of 21 February 2026 that raised the company's capital from 288,000,000,000 rial to 4,482,940,000,000 rial, in 896,588,000 shares of 5,000 rial each, entirely through a revaluation of assets. Registered capital is a nominal legal figure and is not a valuation.

Official Gazette of the Islamic Republic of Iran, legal-notices portal, notice detail ↗ · retrieved 2026-10-07Read directly on the Official Gazette legal-notices portal on 7 October 2026. All 29 notices the portal lists for the company were opened; this is the newest. An increase from asset revaluation restates assets the company already holds at a higher book value and brings in no new money. The previous capital notice, published 8 February 2023, raised the capital from 500,000,000 rial to 288,000,000,000 rial.

Registered name (Official Gazette notice)Meeting of 2 August 2025; notice published 15 November 2025Official record

The Official Gazette notice published in gazette 23488 (Tehran edition) on 15 November 2025 records that an extraordinary general meeting of 2 August 2025 changed the company's registered name from کارگزاری رسمی بیمه مستقیم برخط تجارت الکترونیک نوین نار to کارگزاری رسمی بیمه مستقیم بر خط از کی.

Official Gazette of the Islamic Republic of Iran, legal-notices portal, notice detail ↗ · retrieved 2026-10-07Read directly on the Official Gazette legal-notices portal on 7 October 2026, among all 29 notices it lists for the company. The company's national identifier did not change with the name, so the notices before and after the renaming concern the same legal person; every notice published since then uses the new name.

Reported investorsUnconfirmed timingThird-party reported

Max Holding, Sturgeon Capital (London-based frontier-markets VC), and an unnamed German VC group reported as investors; valuation reportedly grew from ~$6.5M to $50M+

PitchBook, Tracxn aggregator profiles · retrieved 2026-07-27Aggregator-sourced only, no primary funding announcement (press release, filing) found in TI search. Treat valuation and investor list as unconfirmed until a primary source is located.

Signals & timeline, Azki mentions

2026-09-20AzkiVam expands lending to gold market with 6 platforms 2026-09-09Azki Annual Report Shows Online Insurance Market Growth and BNPL Adoption 2026-08-23Tapsifood launches in-store BNPL with Tara, Digipay, Bluebank, AzkiVam 2026-07-22AzkiVam CEO: Lendtech growth requires transparency, self-regulation, and bank cooperation 2026-06-30AzkiVam provided 73000 loans worth 3500 billion toman in 2024-25

From the published signal feed; each record links to its source. All signals →

What we don't know

Revenue / profitabilityNot disclosed

Funding round dates / amountsNot disclosed

Stated gaps are part of the record: in an opaque market, knowing what is NOT publicly established is as decision-relevant as what is.

Source ledger, every field, its evidence

Motor hull insurance, share of salesCompany disclosedYear to 20 March 2026

10.3 per cent