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Policybazaar parent PB Fintech enters healthcare with new subsidiary

YourStory

YourStory · 7m 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.

Related News

PB Fintech gets board approval to set up healthcare business

Economic Times

Economic Times · 7m ago

PB Fintech gets board approval to set up healthcare business

PB Fintech, the parent company of Policybazaar, has received board approvals to establish PB Health Services, a wholly owned subsidiary in the healthcare sector. The new company aims to provide healthcare services and bridge the trust gap between insurers and hospitals. Policybazaar wants to be a shareholder in the new venture to offer better claims settlement experience for its health insurance customers. In September, PB Fintech's share price experienced a 10% drop when the plans to enter the healthcare sector were announced.

Policybazaar's parent company to launch a new payment aggregator subsidiary

IndianStartupNews

IndianStartupNews · 1y ago

Policybazaar's parent company to launch a new payment aggregator subsidiary

PB Fintech, the parent company of Policybazaar, plans to set up a new subsidiary called PB Pay Private Limited. The subsidiary will operate in the payment aggregation business, facilitating offline and digital payment acceptance for merchants. The establishment of PB Pay is subject to receiving a payment aggregator license from the Reserve Bank of India. PB Fintech intends to apply for the license once the subsidiary is incorporated. This move comes as PB Fintech reported a profitable quarter, with a significant increase in operating revenue.

PB Fintech To Incorporate A New Payment Aggregator Arm

Inc42 · 1y ago

PB Fintech To Incorporate A New Payment Aggregator Arm

Fintech firm PB Fintech, the parent company of Policybazaar, plans to enter the payment aggregation business by incorporating a wholly-owned subsidiary called PB Pay. The subsidiary will apply for a payment aggregator licence with the Reserve Bank of India. PB Pay will facilitate offline and digital payment acceptance infrastructure for merchants. The new entity will have an authorised share capital of INR 50 crore ($6.7 million) and a paid-up share capital of INR 27 crore. The move comes as PB Fintech reported a profitable quarter, with a profit after tax of INR 37.2 crore in Q3 2024.

GST officials conduct search operations at Policybazaar office

Economic Times

Economic Times · 6m 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%.

PB Fintech invests Rs 539 crore in healthcare arm

Economic Times

Economic Times · 2m ago

PB Fintech invests Rs 539 crore in healthcare arm

PB Fintech, the parent of Policybazaar and Paisabazaar, invested Rs 539.4 crore in its health subsidiary, PB Healthcare Services, as part of a Rs 1,461.6 crore seed funding round. This investment, involving 5.39 crore Compulsory Convertible Preference Shares, will support the subsidiary's growth and financial strength. The company's stake will reduce from 100% to 32.14% due to external investor participation. The funds will also establish an Employee Stock Option Plan to retain talent.

PB Fintech secures account aggregator licence from RBI

Economic Times

Economic Times · 8m ago

PB Fintech secures account aggregator licence from RBI

PB Fintech, the parent company of Policybazaar and Paisabazaar, has obtained the non-banking finance company-account aggregator (NBFC-AA) license from the Reserve Bank of India. The license will be held by PB Financial Account Aggregator, a subsidiary of PB Fintech. An NBFC-AA is a financial institution that allows for the exchange of financial data between multiple regulated institutions. With this license, PB Fintech can expand its credit marketplace and access customer financial data for informed decision-making.

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

YourStory

YourStory · 10m 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.

General Catalyst to invest in Policybazaar parent's new hospital venture

VCCircle

VCCircle · 2m ago

General Catalyst to invest in Policybazaar parent's new hospital venture

PB Fintech, owner of Policybazaar, has raised $218 million in a seed round for its healthcare venture, PB Health, marking its entry into India's healthcare sector. The funding includes $50 million from General Catalyst. PB Health plans to establish four to five hospitals in and around New Delhi by 2027, with a long-term goal of building a 25-30 hospital network across ten cities. PB Fintech will initially hold a 26% stake in the venture.

PolicyBazaar’s PB Pay receives RBI approval for Payment Aggregation

Entrackr

Entrackr · 3m ago

PolicyBazaar’s PB Pay receives RBI approval for Payment Aggregation

PolicyBazaar’s PB Pay receives RBI approval for Payment Aggregation PB Pay Private Limited, a wholly owned subsidiary of InsurTech firm PB Fintech, has received in-principle approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator under the Payment and Settlement Systems Act, 2007. The approval comes nearly a year after the company submitted its application. The authorisation is subject to compliance with the RBI’s guidelines on the regulation of payment aggregators and payment gateways. Policybazaar focuses on insurance, while Paisabazaar, also under PB Fintech, handles the credit side — personal loans, business loans, credit cards, and credit scores. This move will help the company’s business to support and streamline payment across both insurance and credit verticals and reduce reliance on third-party service providers. Last month, PB Fintech also got the board approval to infuse Rs 696 crore or $80 million to its subsidiary PB Healthcare Services Pvt Ltd to strengthen its new unit’s operations in India’s health care sector. The parent company of Policybazaar and Paisabazaar reported a 48.3% year-on-year revenue growth to Rs 1,292 crore in the third quarter of the last fiscal year (Q3 FY25) from Rs 871 crore in Q3 FY24. During the same period, its net profit nearly doubled to Rs 72 crore from Rs 37 crore in the corresponding quarter of the previous fiscal. PB Fintech is currently trading at Rs 1,625 with a total market capitalization of Rs 74,629 crore (approximately $8.6 billion).

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.

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