PolicyBazaar, the online insurance aggregator has appointed former venture capital investor Sarbvir Singh, as its new chief executive. Co founder Yashish Dahiya, would be taking up a broader group CEO role at the company, that’s backed by SoftBank.
Till now, Singh was the managing partner at early-stage technology-focused VC firm WaterBridge Ventures, would be reporting to Dahiya now. Sharat Dhall, who was previously working with Yatra, would now be working as the chief operating officer.
As per internal sources, Dahiya would have a broader role within PaisaBazaar and Zphin, the BFSI-focussed technology services venture.
Last year in November, Chinese internet conglomerate Tencent Holdings were being reported to have picked up a 10 percent stake in the company. This is after acquiring about half of Tiger Global’s shares for about $150 million, at a valuation of $1.5 billion.
The firm has raised over $650 million from Japan’s SoftBank, Info Edge, Tiger Global, Temasek, PremjiInvest and True North. They entered the unicorn club soon after SoftBank Vision Fund led a $238 million funding round.