PolicyBazaar Raises >$200M Led by SoftBank

ETechAces Marketing & Consulting Pvt. Ltd (“ETechAces”) which owns India’s leading insurtech brand, PolicyBazaar.com and India’s leading lending marketplace, PaisaBazaar.com, today announced it has signed for an over $200 million Series F investment round led by SoftBank Vision Fund, with participation from existing investors including InfoEdge (Naukri.com).

Since its inception in 2008, PolicyBazaar has been at the forefront of establishing online as a “go-to channel” for consumers to compare insurance products, offering them ease to buy instantly and helping them make informed decisions.

“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.” – Cofounder & Group CEO, Yashish Dahiya.

Bottom Line: PolicyBazaar believes it will reach 10M customers come 2020.