PolicyBazaar to raise up to $100 mn at $2 bn valuation: Reports
SoftBank Vision Fund may have picked up an additional stake for $130 Mn in PolicyBazaar’s parent company EtechAces Marketing and Consulting at a $1.5 Bn valuation, in exchange for a 15% stake.
According to an Economic Times report citing sources, the investment will be a mix of pre-decided primary infusion of capital into the company at about $50 Mn and the purchase of shares worth $80 Mn. SoftBank has bought the secondary shares at a premium to the valuation at which they did the primary at $1 Bn in 2018. The shares have been bought from existing investors like Tiger Global Management, Ribbit Capital and Inventus Capital India.