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PolicyBazaar secures $150 million from Tencent to begin new services

PolicyBazaar raises 150 million dollars from Tencent holdings to start new financial services as a mix of B2B and B2C businesses.

PolicyBazaar has raised a funding of almost $150 million from Chinese technology conglomerate Tencent Holdings Pvt. Ltd. The firm is focused on channeling the secured amount to a newer section in financial services, which will be a hybrid of B2B and B2C business.

PolicyBazaar looks forward to expanding its services

According to sources:

  • PolicyBazaar is counting on the development of new ventures in the coming months that can cover fiscal methods
  • PolicyBazaar is aiming to seek firm growth of these and existing businesses.

Other funding rounds

In September, the firm originated another brand titled Zphin, to render technology solutions to the financial service businesses. Earlier in June of 2018, PolicyBazaar successfully raised a massive $238 million in a funding round led by SoftBank Vision Fund, which boosted the services into the Indian Unicorn Club.