What is PolicyBazaar?
Founded in 2008 and headquartered in Gurgaon, Haryana, India, PolicyBazaar operates as a leading online platform for insurance comparison and distribution. As a global financial technology company, it plays a crucial role in simplifying insurance procurement for consumers across India. The company's business model focuses on leveraging technology to provide a wide array of insurance products, including life, health, motor, and travel insurance, from various providers. This approach has positioned PolicyBazaar as a key player in the digital transformation of India's insurance sector, facilitating informed purchasing decisions through its comprehensive comparison tools and expert advice.
How much funding has PolicyBazaar raised?
PolicyBazaar has raised a total of $242.2M across 7 funding rounds:
Series A
$4.6M
Series B
$5M
Series C
$20M
Series D
$40M
Private Equity
$20.6M
Series E
$77M
Private Equity
$75M
Series A (2013): $4.6M with participation from Inventus Capital Partners and Intellect Capital Ventures
Series B (2013): $5M led by Info Edge, Intel Capital, and Inventus Capital Partners
Series C (2014): $20M supported by Info Edge (India) Limited
Series D (2015): $40M featuring Steadview Capital, ABG Capital, and Ribbit Capital
Private Equity (2015): $20.6M backed by Ribbit Capital and Steadview Capital
Series E (2017): $77M with participation from IDG Ventures India, Wellington Management, and True North
Private Equity (2021): $75M led by Falcon Edge Capital LP
Key Investors in PolicyBazaar
Falcon Edge Capital LP
Falcon Edge Capital LP is an investment firm that has participated in PolicyBazaar's funding rounds, contributing to the company's overall capital structure and growth.
Steadview Capital
Steadview Capital partners with visionary founders to build generational companies in the US and India, focusing on both public and private markets. The firm employs an integrated investing framework and is embedded locally with entrepreneurs in San Francisco and Mumbai.
Ribbit Capital
Ribbit Capital is a venture capital firm that invests globally in unique individuals and brands who are aiming to disrupt financial services. Headquartered in Palo Alto, Ribbit believes the category is profoundly under-innovated and is looking to support entrepreneurs who have already launched the businesses of the future.
What's next for PolicyBazaar?
The recent major strategic investment in PolicyBazaar signals a strong confidence from its backers in the company's future trajectory and its capacity for further innovation and market penetration. This infusion of capital is expected to fuel expansion initiatives, potentially including the development of new product lines, enhancement of its technological infrastructure, and broader market reach both domestically and internationally. As an established entity in the insurtech space, PolicyBazaar is well-positioned to capitalize on evolving consumer demands for digital insurance solutions, with this latest backing likely to accelerate its strategic objectives and solidify its leadership in the fintech industry.
See full PolicyBazaar company page
