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SoftBank exits PB Fintech with 3X returns, nets $100 mn from dead Grofers bet

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Nikhil Patwardhan

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Nikhil Patwardhan

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SoftBank continues its recent streak of exits, cashing out of insurance aggregator platform PB Fintech and foodtech leader Zomato

January 17, 2024

4 MINS READ

SoftBank Group has fully divested from insurtech platform Policybazaar (PB Fintech Ltd), yielding a more than three-fold return on its investment in another lucrative exit for the Japanese investment conglomerate.

SoftBank, which held a 4.39% stake in PB Fintech as of September 30, 2023, sold its entire stake via block deals and open market transactions, a person with direct knowledge of the matter told The CapTable on condition of anonymity. The Masayoshi Son-led investment giant invested about $199 million over the years into the insurance aggregator platform and exited the company with more than $630 million for its troubles, the person added.

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