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Tencent gets $150m stake in ETechAces

Nov 10, 2019 • Robert Lavine

Tiger Global Management sold a 10% stake to Tencent in a deal that valued PolicyBazaar owner ETechAces, whose backers include InfoEdge and SoftBank, at $1.5bn.

Internet group Tencent has paid $150m for a 10% stake in India-based online financial services aggregator ETechAces, the Economic Times has reported, citing a person familiar with the transaction.

The corporate bought the shares from investment firm Tiger Global Management, which sold half its stake in the company through a secondary transaction.

ETechAces operates insurance marketplace Policybazaar and loan product aggregator PaisaBazaar.

The company had raised a total of approximately $417m in funding as of a $152m series F round…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.

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