India based lending marketplace and digital insurer backed by SoftBank Vision Fund aims to go public in 2021 at a valuation north of $3.5b, potentially becoming the first of India’s mega-startups to debut as its digital economy booms.
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Policybazaar seeking to raise $250m in pre-IPO funding at a $2b-plus valuation
“The IPO size will be about $500 million,” Dahiya said from London, where he is currently based. “We have global interest and will raise in the coming weeks” for the pre-IPO financing. Policybazaar, which counts SoftBank Group Corp.’s Vision Fund, Tiger Global Management and Tencent Holdings Ltd. among its largest backers, may become the first of India’s digital-era upstarts to go public. Like fellow unicorns Ola, Flipkart and Paytm, the fintech firm rode an upswell of internet and mobile use that spurred digital services across the world’s second-most populous nation.
