Policybazaar

Sugmya Finance, a Delhi-based non-banking financial company (NBFC), has raised $3 million in a funding round led by its existing investors.The company's existing backers include Angelbay, an angel investment network, Kaptable Holdings Private Limited, PolicyBazaar cofounders Alok Bansal, Yashish Dahiya, and Manoj Sharma; Rajesh Singh, managing director of Deltacoin Financial Services; Naveen Kukreja, CEO of PaisaBazaar; Shantanu Jain, managing director of JP Morgan Chase in Singapore; Ujjwal Bhandari, managing director of…

PB Fintech on Friday said that its wholly-owned subsidiary Policybazaar Insurance Brokers has been granted in-principle approval from the insurance regulator to upgrade its licence, allowing its entry into the reinsurance business.According to PB Fintech, the approval will allow Policybazaar “to deepen the insurance penetration in the country” and bring “more technology, process control and data analytics based innovation into reinsurance capacity”. Elevate Your Tech Prowess with High-Value Skill CoursesOffering…

Titan Capital-backed startup Khyaal, which focuses on services for senior citizens, has raised $4.2 million in a funding round co-led by 62 Ventures, SVQuad and early-stage venture capital firm Inventus Capital Partners, which has earlier backed firms like Policybazaar and Healthify.The round also saw participation from existing investors including Everywhere Ventures, Supermorpheus and Unpopular Ventures. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM KozhikodeIIMK Advanced Data…

Policybazaar parent PB Fintech is looking to return a part of its capital to shareholders either through a share buyback or dividends, after having turned profitable in the third quarter, company chairman and cofounder Yashish Dahiya told ET in an interaction.A formal decision in this regard, however, will be made only after discussions with the board and consent from shareholders, he added.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM KozhikodeIIMK Advanced Data Science For…

PB Fintech, the parent entity which operates insurance aggregator Policybazaar and credit marketplace Paisabazaar, has turned profitable and clocked its first ever net profit of Rs 37.2 crore for the third quarter ending December 31, 2023.Following through on the guidance provided in the previous quarters, the company has also reported profits of Rs 4.2 crore for the nine-months period ending December 31.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB…

Hi, this is Pratik Bhakta in Bengaluru.A crop of tech-first stockbrokers is not only leading from the front in adding new customers, they’re also generating strong revenues and profits— a theme we at ETtech have been capturing through our in-depth coverage of this segment. These stock-broking platforms, which have diversified beyond stock trading to position themselves as full-fledged financial services firms, have left behind the traditional players in terms of user sign-ups. Also read | New-age brokers ride on futures…

More than 63% of tax-paying Indians are still on the old tax regime, compared to the 37% who have moved to the new one, found a survey conducted by PB Fintech, the parent company of insurance marketplace Policybazaar.The survey, which covered 1,263 respondents across 350 cities in the country, found out that women were more particular about choosing the tax regime, with 74% of them having picked the tax regime through hard calculations compared to 71% among men.Elevate Your Tech Prowess with High-Value Skill…

The Internet and Mobile Association of India (IAMAI) is asking the government to renotify the latest anti-tobacco rules impacting video streaming platforms, this time after consulting the industry. This and more in today’s ETtech Morning Dispatch.Also in the letter:■ Sam Altman puts competition comments in context■ Policybazaar’s broking business breaking even, almost■ Short video app Tiki shuttersAnti-tobacco rules difficult to implement on OTTs, says IAMAI The Internet and Mobile Association of India (IAMAI) has…

Gurugram-based insurance broker Policybazaar is quickly expanding the share of revenue from its new business lines as it diversifies from just being a consumer-focussed online insurance distribution platform.PBFintech, which is a publicly listed entity and owns insurance distributor Policybazaar and credit aggregator Paisabazaar, generated Rs 365 crore of revenue in the fourth quarter of the last financial year from its new initiatives.This number has gone up 137% from Rs 154 crore in the fourth quarter of last year. In…

Hi, this is Pranav Mukul in New Delhi. Earlier this week, the Internet and Mobile Association of India (IAMAI) elected a new 24-member governing council – and from that, a four-member executive council.Dream11 cofounder and CEO Harsh Jain was elected the chairperson with Makemytrip cofounder Rajesh Magow becoming the vice-chairperson and Times Internet vice chairman Satyan Gajwani taking over as the treasurer.Today, we go deeper to understand what the change in guard could mean for the Indian tech and startup…