Paytm Buys Coverfox?

Paytm is allegedly in the works of acquiring Coverfox for 120million dollars. Coverfox, the digital marketplace where people can buy, compare and manage the insurance on cars, homes, etc.

While Paytm had originally started in the online transaction and money management market, they have now expanded their label into fields such as general insurance, life insurance, etc. This will be the biggest acquirement of the SouthBank based company, although it has faced quite a lot of resistance as Coverface owns big portions of Policy Bazaar as well. However, if the deal goes through, all existing sponsors and investors of Coverfox will exit. But, with all the consumer data that Paytm will avail, they will be able to track your big expenses, and help you further insure them. Paytm is very well on its way of becoming the next Tata or Reliance like super company in India.

Do you think Paytm will join the big leagues of India? Will this deal make it easier for consumers overall? Comment down below…

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