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PolicyBazaar’s parent Etechaces gets infusion of Rs 190.5Cr from Info Edge & MacRitchie

We missed this earlier Info Edge said in a BSE filing that it will jointly invest with Temasek's MacRitchie Investments Rs 190.5 crore in Etechaces Marketing & Consulting, which operates PolicyBazaar.com, and PaisaBazaar.com. Both, the company and MacRitchie will invest an amount of about Rs 95.3 crore each in MakeSense for 50.01% per cent and 49.99% stake, respectively. MakeSense will then aggregate a total investment of Rs 190.5 crore to invest in Etechaces for 3.50% stake in the company. MakeSense is the Special Purpose Vehicle (SPV) to facilitate joint investment between Temasek and Info Edge. Info Edge said in its filing that this investment will help the company to consolidate its presence into the business of Insurance & financial products aggregator within the Internet Services Industry. 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. In a statement shared with MediaNama, PolicyBazaar's  Head of Communications Aman Dhall said that this investment is a small secondary component of the recent $238mn round of funding, which was led by SoftBank Vision Fund. The primary component in the overall fundraising has been $200mn, while the rest has been secondary. Recent media reports suggest that PolicyBazaar.com…

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