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Updated: Policybazaar.com Raises $5 Million From Inventus Capital, Others

Online insurance policy company Policybazaar.com has raised $5 million (around Rs 27.5 crore) in Series B funding from investors including Inventus Capital and others. Info Edge has invested Rs 2.5 crore of this amount, which takes its total investment to Rs 32.5 crore, and its stake in PolicyBazaar to 32%. PolicyBazaar intends to use the money for strengthening its brand and enhancing its platform and customer service. In the last round, the company had raised $9 million (around Rs 40 crore) from Intel Capital (Rs 30 crore) and Info Edge (Rs 10 crore). At that time, PolicyBazaar CEO Yashish Dahiya had said that it was the last round they were raising before an IPO, but it looks like things have changed since then. At the time, the shareholding was split almost equally between the promoters, Info Edge and Intel Capital, and that would have changed too. PolicyBazaar claims over 20 million odd unique visitors. How Has PolicyBazaar's business Model Changed? What we're particularly curious about is how PolicyBazaar monetizes. In 2011, India's Insurance Regulator put in significant restrictions on the activities of what were then web insurance aggregators. We're not certain of the business model in operation now, and we'll try and get more on this, but here's how the policy change impacted insurance aggregators at that time: - Web aggregators will have to apply to receive an approval from the IRDA, in order to be allowed to offer web aggregation of insurance. The application fee was Rs 10,000, and a web…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

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