Early investors of ETechAces (holding company of Policybazaar & Paisabazaar), India’s leading online destination for financial products, sold an undisclosed stake in a secondary transaction. Policybazaar and Paisabazaar are synonymous with online purchase of financial products, offering the widest range of products across insurance, savings and investments and credit requirements of the Indian consumer. ETechAces is backed by Info Edge, SoftBank, Temasek, True North, Tiger Global Management, PremjiInvest, Steadview Capital, Chiratae Ventures, Inventus Capital Partners and others.
Avendus Capital was the financial advisor to the selling shareholders on this transaction.
Policybazaar & Paisabazaar
Policybazaar is India’s #1 online insurance brand with more than 90% ownership of online insurance aggregation space. It provides an easy, convenient and transparent platform to research and compare product features as well as pricing for the entire suite of insurance products from 40+ leading insurers. The platform assists customers through unbiased advisory and complete handholding across policy comparison, purchase and claims management.
Paisabazaar is the largest online platform for lending products in terms of disbursals. It offers loans, credit cards and investment products from 90+ partners across Banks, NBFCs and Fintech players. Paisabazaar offers customized and unbiased comparison insights, enabling customers in selection of products with best terms and policies and those that have the highest chance of getting approved. Paisabazaar today, is focused on using technology to build presence-less and paperless solutions in the financial services aggregation space.
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