Reports indicate that online insurance agent Policybazaar is planning to file for an IPO as early as next month. The Softbank-backed unicorn may look to raise $500 via the public offering that could value Policybazaar at $3.5 billion.
According to latest updates on Crunchbase, to date, the company has raised $766.6 Mn in 13 funding rounds from 22 investorsPolicyBazaar's most recent funding round was in March 2021, when it raised a $75 Mn private equity round led by Falcon Edge Capital.
The portal hosts more than 100 million visitors a year and sells 400,000 insurance policies each month, according to its website.