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Online insurance comparison portal PolicyBazaar in talks to raise $40 mn from PremjiInvest, others

ETechAces
Marketing and Consulting Pvt Ltd, the company behind the online insurance policy
comparison portal
PolicyBazaar, is reportedly in advanced talks to raise $40

ETechAces
Marketing and Consulting Pvt Ltd, the company behind the online insurance policy
comparison portal
PolicyBazaar, is reportedly in advanced talks to raise $40
million from PremjiInvest, among other investors, reports

Techcircle
, citing sources.

According to the
report, existing investors Tiger Global, Intel Capital, Inventus Capital and
Info Edge are also likely to participate in this round.

The funds will
reportedly 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).

Started in 2008,
the company’s flagship product PolicyBazaar offers comparison of various
insurance policies and loans based on price, quality and key benefits, in
addition to helping consumers with analysis of financial products based on the
same parameters.

In May 2014, PolicyBazaar.com
had raised $20 million in its Series C round of funding from Tiger Global.
Prior to that, the company had raised $5
million led by Inventus Capital Partners
. Existing investors Info Edge and
Intel Capital also took part in this round. 

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