Online insurance aggregator, Policybazaar, has raised $75 million in a fresh funding round led by Falcon Edge Capital, a New York-based hedge fund. The fresh infusion is expected to back the fintech firm’s UAE business, people with knowledge of the development told TechCircle. In October 2020, Falcon Edge Capital had acquired a stake in Policybazaar…
Tag: Policybazaar
Abu Dhabi-based ADQ to invest $70 mn in Policybazaar
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•ADQ, the Abu Dhabi-based investment firm, is set to invest $70 million in the parent of Policybazaar, according to the Mint report. The insurance aggregator has plans to go public this year, the report added. The investment will value Etechaces Marketing and Consulting Pvt. Ltd, the 13-year-old company that also runs Paisabazaar, at about $2…
Coronavirus Impact: Paisabazaar lays off 1,500 employees to reduce costs
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•PaisaBazaar, the digital lending arm of PolicyBazaar recently said that it has laid off about 1,500 employees to bring down operational costs as the company’s business struggles due to the coronavirus pandemic. According to a Mint report, the layoffs constitute about half of the company’s workforce and are predominantly from roles involving operations and business…
PolicyBazaar announces top management changes; Sarbvir Singh to be new CEO
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•Fintech startup PolicyBazaar recently announced changes in its top management. The online insurance aggregator has appointed former Venture Capital investor Sarbvir Singh as its new CEO. Company Co-Founder Yashish Dahiya will take up a broader group CEO role. It has also appointed Sharat Dhall as its new Chief Operating Officer. Prior to joining PolicyBazaar, Singh…
Policybazaar raises $150M from Tencent.
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•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.…
Inventus Capital Partners raises close to $52 mn for third fund
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•India- and US-based firm, Inventus Capital Partners, has announced the final close of its third fund at $51.98 Mn. Inventus Capital raised its first fund of $51 million in 2009 and the second one closed with commitments of $106 million in January 2014, both of which had a focus on US and India. The fund…