India: PolicyBazaar in talks to raise $150m as buffer capital by third quarter

Etechaces Marketing and Consulting, the holding company of insurance aggregator PolicyBazaar, is looking to raise $150 million as ‘buffer capital’ to deal with unforeseen events such as the current pandemic.

“Well, bad events do happen. Take, for instance, the COVID 19 crisis. It has not negatively impacted us since insurance sales have been up during this period. But if it had adversely impacted us, we would need the capital to continue our operations fearlessly without revenue for a period of time,” the company’s co-founder and chief executive Yashish Dahiya had told DealStreetAsia earlier this month.

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