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<ul><li>Policybazaar has raised $150 million from <keyword id="212412" type="COMPANY" weightage="20" keywordseo="Tencent">Tencent</keyword>. </li><li>The investment is a secondary transaction with <keyword id="526777" type="COMPANY" weightage="20" keywordseo="Tiger-Global">Tiger Global</keyword> exiting partially. </li><li>Policybazaar’s valuation now stands at $1.5 billion. </li></ul>Chinese investment giant Tencent has bought a 10% stake in one of India’s largest online insurance selling platform⁠ Policybazaar. The Tencent investment comes in as a secondary transaction, with Tiger Global exiting partially, a source confirmed to Business Insider. According to <a href="https://www.thenewsminute.com/article/tencent-buys-10-stake-policybazaar-15-billion-112104">reports</a>, Tencent has pumped in $150 million for the stake in the startup. With this, Policybazaar’s valuation now stands at $1.5 billion. With this funding, Policybazaar will continue to grow in the insurtech sector while its subsidiary company Paisabazaar too continues to do well, said the source. According to <a href="https://economictimes.indiatimes.com/industry/banking/finance/insure/insurance-industry-to-touch-280-billion-by-fy20-assocham/articleshow/65740339.cms">reports</a>, the Indian insurance industry is set to grow to $280 million by 2019-20. Launched in 2008, Policybazaar is also backed by other investors like Softbank, Infoedge etc. Earlier this year, the Yashish Dahiya-led startup also fell in trouble with the Insurance Regulatory and Development Authority of India. The IRDAI had <a href="https://www.livemint.com/money/personal-finance/insurance-regulator-fines-policybazaar-rs-1-11-crore-for-violating-rules-1567076147163.html">slapped a fine</a> of ₹1.11 crores on the startup for multiple violations, including being found guilty of misleading advertisements for vehicle insurance in India. See also: <a href="https://www.businessinsider.in/business/news/thomas-cook-indias-travel-business-is-hit-by-the-closure-of-jet-airways-cox-kings-and-more/articleshow/71964971.cms">Thomas Cook India’s business is hit by bankruptcies, political unrest and heat wave</a>s

Tencent joins Softbank as investor in one of India’s largest online insurance selling platform⁠ Policybazaar.com as Tiger Global sells part stake

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Tencent joins Softbank as investor in one of India’s largest online insurance selling platform⁠ Policybazaar.com as Tiger Global sells part stake

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