SoftBank Group's Vision Fund invests over $200 million in PolicyBazaar

Indian online insurance aggregator PolicyBazaar has raised more than $200 million in a new round of funding led by Japanese tech and telecoms conglomerate SoftBank Group's Vision Fund, its owner said on Monday.

Existing investors including Info Edge (India) Ltd also participated in the Series F round, ETechAces, which owns PolicyBazaar and online lending marketplace PaisaBazaar.com, said in a statement.

The SoftBank Vision Fund, the world's biggest private-equity fund, has also invested in other Indian companies including cab-hailing firm Ola.

PolicyBazaar, which was founded in 2008, said it currently accounts for nearly a quarter of India's life cover, and more than 7 per cent of the retail health business.