SoftBank splashes $130m in Indian insurtech PolicyBazaar

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SoftBank’s Vision Fund has reportedly bought an additional stake worth $130 million in the owner of Indian insurance marketplace, PolicyBazaar. Times of India reported the deal based on three sources who said the new investment would give SoftBank a more than 15% stake in the company. It also owns smaller Indian firms Paisabazaar, which offers lending and credit card solutions, and healthtech venture, DocPrime. SoftBank’s Vision Fund CEO Rajeev Misra tells Times of India in April that he sees consolidation in the Indian internet space as highly likely. “PolicyBazaar will make up more than the business downside at Paisabazaar, which is a temporary blip, and economy cannot run without loans,” the source says.

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