Updated: Jul 21, 2020
Insurance aggregator Policybazaar plans to raise $150 mn (about Rs 1,100 crore) as buffer capital during the third quarter of the current fiscal. Although the company doesn't require capital for business expansion, it may raise some funds as a buffer for unforeseen events.
"We might raise some capital as a buffer. You never know what will happen in the future. This year COVID happened. What if something else happens in the future? We may raise about $150 million, but that is more for safety than for any plan. It may happen in Q3," Yashish Dahiya, Group CEO and co-founder, said.