PB Fintech has received approval to invest upto $5 million in the shares of PB Fintech FZ-LLC, a wholly owned subsidiary of the Company. As part of company’s investments, the present investment allows wholly owned subsidiary to meet its general operating expenses and enhancing brand awareness, office presence and strategic initiatives. The company will infuse the overall funds in the PB Fintech FZ LLC as approved by the Board of Directors in one or more tranches during the financial year 2022-23 and 2023-24. The Board of Directors at its meeting held on February 10, 2023, has approved the same.
PB Fintech is India's leading online platform for insurance and lending products. The company provides convenient access to insurance, credit, and other financial products and aims to create awareness in India about the financial impact of death, disease, and damage.
