Business & Investment

Policybazaar IPO for 12 to 15 months.Parent company gets boost from Bay Capital

Lead online Aggregator com received a capital increase from investment management firm Bay Capital prior to its initial public offering (IPO) in the next 12 to 15 months.

Bay Capital, which manages funds on behalf of US and European institutions and funds, has injected a private amount into its parent company, Private Label FinTech. com.

“Bay Capital is an insurance aggregator In the next 12 to 15 months. “

However, it was not possible to confirm how much capital Bay Capital injected.

PB Fintech won the unicorn position in 2018 when it raised $ 200 million in a Series F round led by Softbank in Japan.

Bay Capital founder and CIO Siddharth Mehta said PBFintech has changed the way insurance is purchased in India.

“Customer centricity was central to their proposals and helped them become a platform of choice for their customers,” he said.

Yashish Dahiya, founder and group CEO of PBFintech, said Bay Capital is a long-term investor and the company believes they play an important role: We will head to the open market in the next 12 to 15 months.

Focused on India, Bay Capital has invested in areas such as consumer, digital, finance, outsourcing and health.

Among other things, Policybazaar.com has investors such as Info Edge, Premji Invest, Temasek, Ribbit Capital, Chiratee, Inventus Capital Partners, True North, Tiger Global, Wellington and Steadview.

PB Fintech also owns Paisabazaar.com, an online credit comparison portal.

(Only the headlines and photos in this report may have been reworked by Business Standard staff. The rest of the content is automatically generated from the syndicate feed.)

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Policybazaar IPO for 12 to 15 months.Parent company gets boost from Bay Capital

https://www.business-standard.com/article/companies/policybazaar-ipo-in-12-15-mos-parent-firm-gets-boost-from-bay-capital-121030301343_1.html Policybazaar IPO for 12 to 15 months.Parent company gets boost from Bay Capital

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