Info Edge, the largest consumer internet firm in India by market value, and Intel Capital, the corporate venturing unit of US-listed chip maker Intel, have reinvested in a R27 crore ($5m) series B round into India-based online financial services platform Policybazaar.com. There was also involvement from US-India venture firm Inventus Capital.
PolicyBazaar.com is run by India-based insurance services company ETechAces Marketing and Consulting.
Sudheer Kuppam, managing director at Intel Capital Asia Pacific, said: “With more and more people transacting on the Internet for their daily needs, we are also seeing a steady growth of customers buying insurance policies online.”