PolicyBazaar, along with PaisaBazaar, has secured $238 million (Rs. 1,600 crore) in equity financing led by SoftBank..The other investors are TrueNorth and InfoEdge..Samvad Partners acted for PolicyBazaar and Paisa-Bazaar with a team led by Partner Ashwini Vittalachar, along with Senior Associate Junaira Rahman and Associate Riddhima P. Murjani..Trilegal acted for SoftBank with a team led by Partner Rohan Ghosh Roy, along with Senior Associate Anurag Shrivastav, and Associates Anant Prabhuchimulkar, Vinit Patwari, Pujitha Gullapalli and Divyajyot Verma..J. Sagar Associates acted for Info Edge and the team was led by Partners Rohitashwa Prasad and Swetha Prashant and Associate Anshu Bansal. .Khaitan & Co Acted for Temasek, an existing investor in PolicyBazaar and the team was led by Partner Aakash Choubey..The announcement comes after about six months of negotiations between SoftBank and Gurgaon-based ETechAces Marketing and Consulting, which owns and operates insurance policy aggregator PolicyBazaar and online financial marketplace Paisa-Bazaar..SoftBank, which channeled its investment through its $93 billion Vision Fund, will own an estimated 15% of ETechAces, having invested about $150 million in the company, reported ET..Updated at 14:02 with JSA and Khaitan details on the deal.
PolicyBazaar, along with PaisaBazaar, has secured $238 million (Rs. 1,600 crore) in equity financing led by SoftBank..The other investors are TrueNorth and InfoEdge..Samvad Partners acted for PolicyBazaar and Paisa-Bazaar with a team led by Partner Ashwini Vittalachar, along with Senior Associate Junaira Rahman and Associate Riddhima P. Murjani..Trilegal acted for SoftBank with a team led by Partner Rohan Ghosh Roy, along with Senior Associate Anurag Shrivastav, and Associates Anant Prabhuchimulkar, Vinit Patwari, Pujitha Gullapalli and Divyajyot Verma..J. Sagar Associates acted for Info Edge and the team was led by Partners Rohitashwa Prasad and Swetha Prashant and Associate Anshu Bansal. .Khaitan & Co Acted for Temasek, an existing investor in PolicyBazaar and the team was led by Partner Aakash Choubey..The announcement comes after about six months of negotiations between SoftBank and Gurgaon-based ETechAces Marketing and Consulting, which owns and operates insurance policy aggregator PolicyBazaar and online financial marketplace Paisa-Bazaar..SoftBank, which channeled its investment through its $93 billion Vision Fund, will own an estimated 15% of ETechAces, having invested about $150 million in the company, reported ET..Updated at 14:02 with JSA and Khaitan details on the deal.
