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…
