Private Equity

Liquidity Events

PolicyBazaar to acquire MyLoanCare for Rs.40-Cr

Business Line  

PB Fintech - the parent of online insurance and credit comparison platforms Policybazaar and Paisabazaar - is to acquire Gurugram-based loan marketplace MyLoanCare for INR 40.41 crore. PB will initially acquire a 24.93% equity stake in MyLoanCare Ventures and increase its shareholding to about 70.1% at the end of six months. Established in 2013, MyLoanCare allows customers to compare various loan products and interest rates.

From the Venture Intelligence PE-VC Deal Database: In Apr-2018, MyLoanCare had raised over INR 6 Cr from Ncubate Capital. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)