On October 27th, Indian financial technology company P.B. Fintech (the parent company of online lending platform Paisabazaar and insurance technology unicorn Policybazaar) will go public on November 1. Among them, Policybazaar will raise US$200 million through this IPO.
It has raised more than US$766 million through investors such as SoftBank, Temasek and Info Edge. SoftBank holds more than 15% of the shares and will sell some shares in this IPO.
The new funds will be used to increase brand awareness, expand the consumer base (including offline business), carry out strategic investments and mergers and acquisitions, and expand business outside of India.