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PolicyBazaar.com raises $5m from Inventus Capital

Tags: policybazzar, inventus capital, funding, sme, entrepreneur india

April 09, 2013 | COMMENTS ( 0 )

PolicyBazaar.com raises $5m from Inventus Capital

Online financial services platform PolicyBazaar.com in Series B funding has raised $5 million (Rs 27 crore) from Inventus Capital Partners and existing investors, Info Edge and Intel Capital.

As per a release, the funds raised would mainly be used for strengthening the brand, platforms, and customer service.

Yashish Dahiya CEO, Policybazaar.com said that this round will allow them to invest for enhancing customer experience and creating a consumer centric brand.

Speaking on the investment, Parag Dhol, Managing Director, Inventus Advisory Services (India) as per the release said, “As the Indian financial services industry evolves to transparent products, a neutral platform for information on such products is a godsend for value-conscious Indian consumers.”

Launched in  June 2008, Policybazaar had earlier raised Rs 20 crore from Infoedge in September 2008, and it had raised another Rs 40 crore from Infoedge and Intel Capital, in April 2011.

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