PolicyBazaar, the online insurance aggregator has appointed former venture capital investor Sarbvir Singh, as its new chief executive. Co founder Yashish Dahiya, would be taking up a broader group CEO role at the company, that’s backed by SoftBank.
Till now, Singh was the managing partner at early-stage technology-focused VC firm WaterBridge Ventures, would be reporting to Dahiya now. Sharat Dhall, who was previously working with Yatra, would now be working as the chief operating officer.
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As per internal sources, Dahiya would have a broader role within PaisaBazaar and Zphin, the BFSI-focussed technology services venture.
Last year in November, Chinese internet conglomerate Tencent Holdings were being reported to have picked up a 10 percent stake in the company. This is after acquiring about half of Tiger Global’s shares for about $150 million, at a valuation of $1.5 billion.
The firm has raised over $650 million from Japan’s SoftBank, Info Edge, Tiger Global, Temasek, PremjiInvest and True North. They entered the unicorn club soon after SoftBank Vision Fund led a $238 million funding round.
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