Policybazaar, India’s prominent online life insurance and general insurance aggregator, has raised raised close to $150 million in funding from Chinese technology conglomerate Tencent Holdings Pvt. Ltd. The startup was founded by Yashish Dahiya, Alok Bansal and Avaneesh Nirjar in 2008. With this round, Policybazaar has been valued at a little more than $1.5 billion.
The startup will utilize the funds for business expansion in newer segments. Company is also planning to launch new ventures in the coming months, which will cover a host of financial services. The company is also aiming to look strongly at growth of these new businesses and existing verticals.
PolicyBazaar.com has partnered with all prominent public and private insurance companies in India. The company’s tie ups include – partners from life insurance, health insurance, car insurance, travel insurance, corporate insurance and loan providers.