Online financial services portal raises funds from SoftBank Group, its existing investors. Founded in 2008, Policybazaar currently accounts for nearly 25 per cent of India’s life cover, and over 7 per cent of India’s retail health insurance business. The online insurance platform competes with Sequoia Capital-backed BankBazaar, a new entrant Coverfox, which recently raised $22 million, besides Fairfax Financial Holdings-backed Digit Insurance, and start-up Acko, which raised $12 million from Amazon in May this year.
