Online financial services platform Policybazaar.com has secured about Rs 27 crore ($5 million) of Series B funding.
The funding, led by Inventus Capital Partners, will be used to invest in the platform to enhance the consumer experience and invest in creating a consumer-centric brand. Existing investors, Info Edge and Intel Capital, also participated in the round of funding.
"We are very keen to work with insurers in improving their platforms from a consumer e-commerce perspective, and reducing their cost of acquisition. In essence, we are committed to building the motor, term, health, loans, and credit cards product categories, and introducing further categories such as pension, critical illness, disability cover, etc," said Yashish Dahiya, CEO, Policybazar.com
"We are committed to building a platform which makes understanding financial products easier. With over 20 million-odd unique visitors who use our platform, less than a quarter of a million buy, we are committed to ensuring the transaction number crosses one million a year within the next 24 months," adds Dahiya.