wordpress blog stats
Connect with us

Hi, what are you looking for?

PolicyBazaar raises $200 million from Softbank’s Vision Fund

Digital insurance platform PolicyBazaar has raised $200 million from Softbank's $100 billion Vision Fund in a Series F funding. This fresh round of funding values PolicyBazaar to nearly $1 billion, catapulting it into the unicorn club. The deal was led by the Vision Fund with participation from existing investors including InfoEdge, the parent company behind jobs platform Naukri.com. The startup’s other investors are Softbank, Temasek, Tiger Global, True Northland and Wellington Management, although an announcement from PolicyBazaar didn’t specifically mention if any of those names took place in this latest round (apart from InfoEdge). PolicyBazaar was founded in 2008 initially as an information portal for learning about insurance and insurance programs. Today, the company operates its own digital insurance brand and acts as a marketplace that aggregates and selects deal from across the industry. Parent company EtechAces expanded into the lending marketplace and financial advisory services with the launch of PaisaBazaar in 2014. The platform sells loans, credit cards, gold funds, mutual funds, exchange-traded funds and corporate deposits. PolicyBazaar claims 100 million visitors in website traffic per year with a transaction volume of nearly 300,000 per month. The company further claims that the insurance aggregator is used to purchase over 20% of life insurance coverage in India and 7% of the country’s retail health coverage. With the fresh infusion of funding, PolicyBazaar estimates it will have 10 million customers by 2020. As for SoftBank, it adds to its growing investments in India. The Japanese tech investor has previously backed online retailers…

Please subscribe/login to read the full story.
Written By

I cover health, policy issues such as intermediary liability, data governance, internet shutdowns, and more. Hit me up for tips.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?

News

After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples

News

In the case of the ‘deemed consent' provision in the draft data protection law, brevity comes at the cost of clarity and user protection

News

The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ