Bay Capital, which manages money on behalf of institutions and endowments from the US and the Europe, has infused an undisclosed sum into the parent company PB Fintech of Policybazaar.com.
Leading online insurance policy aggregator Policybazaar.com has got a capital boost from investment management firm Bay Capital, ahead of its initial public offering (IPO) in the next 12-15 months.
Bay Capital, which manages money on behalf of institutions and endowments from the US and the Europe, has infused an undisclosed sum into the parent company PB Fintech of Policybazaar.com.
Siddharth Mehta, founder and CIO of Bay Capital, said PB Fintech has transformed the way insurance is bought in India.
"Customer centricity has been the heart of their proposition and has helped them become the platform of choice for customers," he said.
Yashish Dahiya, founder and Group CEO of PB Fintech, said Bay Capital is a long-term investor and the company sees them playing a key role as Policybazaar heads towards the public markets in the next 12-15 months.
India focussed Bay Capital has invested in areas such as consumer, digital, finance, outsourcing and health.
Among others, Policybazaar.com has investors of the likes of Info Edge, Premji Invest, Temasek, Ribbit Capital, Chiratae, Inventus Capital Partners, True North, Tiger Global, Wellington and Steadview.
PB Fintech also holds Paisabazaar.com, which is an online credit comparison portal.
Instacart, an online grocery delivery service provider has disrupted the whole grocery shopping industry. It has introduced doorstep grocery and home indispensable items in multitudinous cities of USA.
Its technology-driven business model boosts the on-demand delivery process in a vigorous way. Its same-day doorstep delivery concept makes Instacart one of the most promising and appreciating grocery delivery brands in the USA.
Instacart, the Story Started in 2012
Apoorva Mehta, CEO of Instacart, when he was 25, founded this on-demand grocery delivery startup in San Francisco. Now 30 years old ingenious leader has evolved the company with more than 300 full-time employees. It offers grocery delivery in an hour in a number of urban communities in 20 states.
Nowadays, Instacart is available in 70% of households all over the country. Last year, Mehta announced his goal to reach 80% of houses in the U.S. by the year-end of 2018.
February 2018, Instacart raised led $200 million by the Glade Brook Capital Partners as well as Coatue Management, and other investors. Instacart valued at $4.2 billion after the latest funding round.
Key Activities of Instacart
- Creating an effective technological infrastructure
- Dealing with local market partners
- Managing the shopper (Delivery partner) workforce
- 24/7 Customer service
The 4 Step Model That Shows How Instacart Works
This on-demand grocery delivery service has become popular in the current sharing economy. Presently, Instacart’s journey inspires many budding entrepreneurs. If you are one of them and want to learn more about the Instacart business model canvas then you are on the right page. In this article, we will shed some light on how does Instacart work and revenue model along with some absorbing facts about this successful $2 billion valuation company.
Let’s check out the following points to understand how Instacart works:
- Customers place their grocery order and pay online through Instacart application.
- Grocery shopper [delivery partner] gets the order and starts purchasing food items as mentioned in the list.
- Grocery shopper completes the payment process through Instacart’s pre-paid & debit card options.
- After that shopper goes to deliver the items to the customer’s doorstep according to the mentioned address in the order.
Key Players in Instacart Business Model
Instacart has combined business model of Airbnb and Uber and has created their own sharing economy module to run their business. Let’s explore the Instracart’s 3 tiered customer strategy which will help you get better knowledge about this fusion.
Users
Users can place their order through the Instacart’s app or website. They can select their preferable stores to order foodstuffs, write delivery instructions, they can pay by online, and also mention tips for the shoppers
Shoppers
Shoppers are the contractual employees or you can say they are part-time workers. Shoppers receive grocery request on their phone and shop all necessary items on behalf of the customers. They collect all mentioned items from the list and deliver it to the customer doorstep in a minimal time frame.
Stores
Many local stores are the partner of Instacart. Users can easily check out all the partner stores name to give their order. Instacart gives a platform to this local stores to increase their revenue growth through online sale.
https://biographytalk.com/nakuul-mehta/Nakuul Mehta is an Indian model, actor and dancer known for his job of Aditya Kumar in Star Plus Pyaar Ka Dard Hai Meetha Pyaara.
At present, he is assuming the job of Shivaay Singh Oberoi in Star Plus Ishqbaaaz.
Nakuul Mehta Biography, Personal Details, Career, Body Stats and Net worth 1] Early life and Education Mehta was… Read More »
