Indian online insurance platform Policybazaar is planning to go public in 2021.
In Brief:
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The company will IPO at a value of over $3.5bn.
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It plans to secure $250mn pre-IPO.
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At present it’s valued at around $2bn.
What does this mean?
The news comes from Bloomberg which spoke to co-founder Yashish Dahia about the company’s plans. It will begin raising its pre-IPO funding “in the coming weeks”. Policybazaar sells around one million insurance policies a month from various providers on its platform, and is already backed by Softbank and Tencent.
