Policybazaar.com, the online
financial services platform, has raised $5 million (over Rs 27 crore) from Inventus Capital Partners, Info Edge and Intel Capital.
This round of funding would mainly be used for strengthening brand, platforms, and customer service.
"Policybazaar.com has secured $5 million series B funding, which was led by Inventus Capital Partners and also saw the existing investors, Info Edge and
Intel Capital participating in this round," a company statement said.
"This new round allows us to invest in the platform to enhance the consumer experience, as well as invest in creating a consumer centric brand," Policybazaar.com CEO Yashish Dahiya said.
Earlier in September 2008, Policybazaar.com had raised Rs 20 crore from Infoedge, while in April 2011 the company had raised another Rs 40 crore from Infoedge and Intel Capital.
Commenting on this new round of investment, Inventus Advisory Services (India) Managing Director Parag Dhol said: "As the Indian financial services industry evolves to transparent products, a neutral platform for information on such products is a godsend for value-conscious Indian consumers."
With inputs from PTI 
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