“PolicyBazaar, along with PaisaBazaar, has secured $238 million (Rs 1,600 crore) in equity financing led by SoftBank, the world’s largest technology investor, in the process joining a rapid succession of Indian enterprises being catapulted into the once-elusive Unicorn club”, reported the Economic Times.

Etechaces Marketing and Consulting , which is the promoter company behind PolicyBazaar and PaisaBazaar, instructed Samvad Partners, which acted as transaction counsel to the company and its founders, advising on all aspects of the transaction, including negotiations of the transaction documents and advisory on corporate compliances, according to Samvad’s press release. Its team was led by partner Ashwini Vittalachar, senior associate Junaira Rahman and associate Riddhima P Murjani.

The start-up has been a long-standing client of Samvad, with the firm having also acted on its $79m fund-raise in 2017.

Trilegal Mumbai acted for Softbank in the deal.

Update 27 June 2018: Existing investor Temasek was represented by Khaitan & Co partner Aakash Choubey.

Update 27 June 2018: J Sagar Associates (JSA) acted for Info Edge India in its proposed investment, led by partners Rohitashwa Prasad and Swetha Prashant, and associate Anshu Bansal.

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.