PolicyBazaar, an India-based online aggregator of insurance policies previously backed by computing company Intel’s corporate venturing unit Intel Capital, is in advanced talks to secure $40m in a series D round.
VCCircle reported the news yesterday, citing sources who named PremjiInvest, the personal investment vehicle of IT consulting firm Wipro chairman Azim Premji, as lead investor. Existing investors including Intel Capital are reportedly also involved.
Intel Capital first invested an undisclosed amount of seed funding in 2011, and participated in the series A and B rounds in 2013 which raised a combined $9.6m. Classified listings company Info Edge and venture capital firm Inventus Capital Partners also joined these two rounds.
PolicyBazaar secured $20m for its series C round in May 2014. The round featured investment firm Tiger Global Management and all existing investors.
PolicyBazaar enables consumers to compare insurance policies and loans by providing prices, quality and key benefits of each policy.