Global Firms Acquire Majority Stake in PB Fintech as Early Investors Exit | July 3, 2024
Gurugram-based fintech firm PB Fintech, which operates insurance marketplace Policybazaar and credit platform Paisabazaar, has seen a surge in interest from global and domestic institutional investors. Several early-stage investors in the company have exited their positions, either fully or partially, through bulk deals since the firm went public in 2021.
American financial services major Capital Group, as well as asset management firms T. Rowe Price, Fidelity, and Vanguard, have all acquired significant stakes in PB Fintech. Capital Group now owns around 10% of the company through various investment vehicles, according to a person familiar with the matter.
Here are the main highlights:
Foreign portfolio investors (FPIs) have been actively acquiring shares in PB Fintech. This incl...