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As profits soar, PB Fintech takes a second bite at mutual funds

Livemint

Livemint · 22d ago

As profits soar, PB Fintech takes a second bite at mutual funds

PB Fintech plans to re-enter the fee-based mutual fund business under its PB Money vertical, aiming for a new revenue stream after its Q1FY26 profits soared. This initiative marks the company's second attempt following a previous venture in 2019, which evolved into a separate entity named Zfunds, led by CEO Manish Kothari, a former Paisabazaar executive. This move responds to the mutual fund industry's impressive growth, with assets reaching ₹72.2 trillion in May.

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Tencent sells 2.1% stake in PB Fintech for Rs 1,668 crore; SBI MF, SocGen pick up stake

YourStory

YourStory · 11m ago

Tencent sells 2.1% stake in PB Fintech for Rs 1,668 crore; SBI MF, SocGen pick up stake

Chinese conglomerate Tencent has sold a 2.1% stake in PB Fintech, the parent company of PolicyBazaar, for Rs 1,668 crore through open market transactions. SBI Mutual Fund and Societe Generale acquired a stake in PB Fintech. This sale decreases Tencent's shareholding in PB Fintech to 2.13% from 4.26%. PB Fintech operates PolicyBazaar, an online insurance platform, and PaisaBazaar, a credit comparison portal. In recent months, Tencent has sold multiple stakes in PB Fintech.

Mutual funds ramp up stakes in new-age companies by 2-3X as PE/VCs head out

Money Control

Money Control · 2y ago

Mutual funds ramp up stakes in new-age companies by 2-3X as PE/VCs head out

Improvement in profitability and funding winter attract mutual funds to firms like Paytm, Zomato, Nykaa, PB Fintech, Delhivery. Experts say MFs might look to ramp up holdings further in these new-age stocks

Policybazaar parent PB Fintech enters healthcare with new subsidiary

YourStory

YourStory · 8m ago

Policybazaar parent PB Fintech enters healthcare with new subsidiary

Policybazaar's parent company, PB Fintech Limited, has announced plans to enter the healthcare sector by setting up a subsidiary named PB Healthcare Private Limited. PB Fintech aims to address inefficiencies in the insurance ecosystem and improve trust by focusing on the lifetime value of customers. The company will invest up to $100 million in infrastructure and operational frameworks. The proposed model involves partnerships with hospitals and insurers to establish standardized procedures and reduce claims discrepancies. This move is expected to accelerate industry growth and indirectly benefit Policybazaar's market penetration. PB Fintech reported a significant increase in revenue and profits in Q2 FY25.

With the new IRDAI license, Policybazaar eyes re-insurance market

The Arc Web

The Arc Web · 1y ago

With the new IRDAI license, Policybazaar eyes re-insurance market

PB Fintech, the parent company of Policybazaar and Paisabazaar, has obtained a Composite Insurance Broker license from the IRDAI. This new license will allow PB Fintech to enter the re-insurance broking market and introduce technology-driven innovations. Reinsurance broking offers a highly profitable business model with lower capital requirements. PB Fintech reported a net profit of Rs 4 crore for the nine months ending in December 2023, marking a substantial improvement from the previous year. The company's share price has risen, and investors have begun to realize profits.

SoftBank offloads 2.5% stake in PB Fintech for Rs 871 crore

Economic Times

Economic Times · 1y ago

SoftBank offloads 2.5% stake in PB Fintech for Rs 871 crore

Japanese conglomerate SoftBank has sold a 2.5% stake in PB Fintech, the parent firm of Policybazaar, through open market transactions for Rs 871 crore. The shares were purchased by Tata Mutual Fund, Kotak MF, Societe Generale, and other buyers. This follows SoftBank's divestment of a 5.1% stake in Policybazaar for Rs 1,043 crore in December 2022. PB Fintech operates online insurance platform Policybazaar and credit comparison portal Paisabazaar.

SoftBank’s stake sale continues, offloads 1.14 Cr PB Fintech shares worth INR 914 Cr

Inc42 · 1y ago

SoftBank’s stake sale continues, offloads 1.14 Cr PB Fintech shares worth INR 914 Cr

SoftBank has sold 2.53% of its stake in PB Fintech through multiple block deals, totaling to INR 913.7 Cr. Following the sale, SoftBank is now expected to hold 83.23 Lakh shares in the company. The shares were purchased by Societe Generale, HDFC Mutual Fund, Goldman Sachs, ICICI Prudential Life Insurance, and others. This stake sale comes after SoftBank's recent offloading of shares in Zomato. PB Fintech has been witnessing improvements in its financials, with a significant decline in net loss and consecutive positive quarters of adjusted EBITDA.

GST officials conduct search operations at Policybazaar office

Economic Times

Economic Times · 7m ago

GST officials conduct search operations at Policybazaar office

GST officials conducted search operations at PB Fintech, the parent company of Policybazaar, regarding vendor activities linked to its subsidiary, PB Partners. PB Fintech confirmed cooperation with the Directorate of GST Intelligence, assuring no financial impact on the company. The searches focused on vendors associated with Policybazaar’s offline insurance distribution business. Despite the raids, PB Fintech's shares saw a minor increase on the BSE, closing at Rs 1,763, up 1.05%.

Fintech startup Yenmo secures $500,000 in funding round led by Y Combinator

Economic Times

Economic Times · 1y ago

Fintech startup Yenmo secures $500,000 in funding round led by Y Combinator

Fintech platform Yenmo has raised $500,000 in seed funding led by Y Combinator. Yenmo offers instant loans against mutual funds at a flat 10.5% interest rate. Users can borrow against their investments, pay only interest during the loan tenure, and repay the principal amount when funds are available. Yenmo plans to launch new products, such as loans against stocks, insurance, digital gold, and land, and offers a full-stack API solution for other companies to integrate loans against mutual funds.

PB Healthcare secures $218 million from General Catalyst, PB Fintech, others

Economic Times

Economic Times · 3m ago

PB Healthcare secures $218 million from General Catalyst, PB Fintech, others

PB Healthcare Services, a PB Fintech affiliate, secured $218 million in its first equity infusion from General Catalyst and other investors to develop a hospital chain. PB Fintech, which holds a 26% stake in the healthcare venture, contributed $62 million. The funds will build five to six 200-250 bed hospitals in the National Capital Region initially. The initiative aims to integrate healthcare and insurance while focusing on improving long-term health outcomes and patient experiences.

Paisabazaar CEO Naveen Kukreja steps down; Santosh Agarwal promoted to top role

YourStory

YourStory · 5m ago

Paisabazaar CEO Naveen Kukreja steps down; Santosh Agarwal promoted to top role

Naveen Kukreja stepped down as CEO of Paisabazaar, transitioning to group president at PB Fintech and non-executive director at Paisabazaar. Santosh Agarwal, currently at Policybazaar, will become CEO of Paisabazaar. PB Fintech announced the leadership changes aligned with their growth strategy. Vivek Audichya shifts from Paisabazaar CFO to Policybazaar CFO, with Neeraj Tripathi succeeding him. The company aims to expand its digital lending and insurance footprint.

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