Gurgaon-based, online financial services platform Policybazaar has raised around $40 million in Series D round from Premji Invest with participation from existing investors Tiger Global and Ribbit Capital. Besides these, the round also saw investment from Steadview Capital and ABG Capital.
As per a VCCircle report, the new funding will be used for upgrading the technology, marketing and building out the company’s recently launched platform PaisaBazaar.com which is into loans, credit cards, mutual funds, corporate deposits, gold funds and exchange-traded funds (ETFs).
Launched in June 2008, Policybazaar, had previously raised $20 million in series C, $5 million in series B, $4.6 million in series A and an undisclosed amount in May 2011. Founded by Yashish Dahiya, Policybazaar is an online insurance aggregator, it helps to compare the prices and key features of different financial products like Life Insurance, General Insurance, Loans and Credit Cards. It helps to get free insurance quotes and one can compare plans based on multiple features. The company had also launched its app for Android and iOS users.