PB Fintech Ltd acquires IT startup Visit Internet Services for Rs 22.4 crores

PB Fintech Ltd is the parent company of insurance companies Policybazaar and Paisabazaar.

PB Fintech Ltd, the parent company of Policy Bazaar announced on Saturday that it has acquired the internet technology startup company Visit Internet Services for 22.4 crore. The acquisition was made through Policy bazaar’s fully owned subsidiary company Docprime Services.

Visit Internet Services Pvt. Limited is a Delhi-based company founded by BITS Pilani alumni Anurag Prasad, Vaibhav Singh, Shashvat Tripathi, and Chetan Anand. VISL is an internet technology company that runs and operates the Visit Health App. The app enables the patients to connect with medical specialists and consultants across the country using artificial intelligence.

According to the owner of PB Fintech, the total cost of the acquisition was Rs 22.4 crore in one or more trances and would lead to an initial acquisition of 98.4%.

In the exchange filing, the owner of Policybazaar further said that the main objective of VISPL was to develop and provide on-demand tele-healthcare services via internet services and mobile applications. And, with the use of internet technology, it will help the medical care providers and seekers to connect. Thus, providing internet-based healthcare services across the country and abroad.

According to the filing by Policybazaar, VISPL had a turnover of 23 lakh FY19 and Rs. 76.4 lakh FY2021.

 

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