25 June 2018, India:
PolicyBazaar has raised $200 million in Series F round of Funding. The funding round was led by Softbank Vision Fund. Existing investor InfoEdge (Naukri.com) also participated in the funding round.
“Over the last decade, PolicyBazaar has become synonymous with online insurance shopping in India. We believe that the Indian insurance market continues to remain massively under-developed and PolicyBazaar, supported by SoftBank’s capital and ecosystem, is uniquely positioned to dramatically increase the adoption of insurance products in the country,” said Munish Varma, partner at SoftBank Investment Advisers.
“We are very pleased to welcome Softbank Vision Fund on board as our stakeholder. SoftBank’s culture of backing disruptive businesses and industry leaders with long-term capital investment gels well with our own values and vision of creating a transparent and empowering financial products marketplace. We hope to gain a lot from their global footprint and experience,” said Yashish Dahiya, co-founder & Group CEO, ETechAces (owner of Policy Bazaar).
PolicyBazaar was founded in 20089. It offers buyers opportunity to compare and choose insurance policies. It is owned by ETechAces.
(Image – PolicyBazaar)