Gurgaon-based Etechaces Marketing and Consulting Pvt. Ltd., which runs online financial services platform Policybazaar.com, has secured about Rs.27 crore ($5 million) of Series B funding. The funding, led by Inventus Capital Partners, will be used to enhance the platform and to create a consumer-centric brand. Existing investors Info Edge and Intel Capital also participated in the latest round of funding, with the former investing Rs.2.5 crore. With this, Info Edge has invested an aggregate of about Rs.32.5 crore in Policybazaar for an about 32% stake.
From the Venture Intelligence PE Deal database: In Apr-11, Policybazaar had raised Rs.40 crore from Intel Capital (Rs.30-Cr) and Info Edge (Rs.10-Cr).
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