India, May 8 -- PB Fintech, the parent company of Policybazaar, has said that its healthcare venture PB Healthcare secured $218 Mn (INR 1,843.17 Cr) as a part of its seed funding round led by General Catalyst.

The round also saw participation from PB Fintech, along with other undisclosed external investors.

The fundraise marks a 26% rise from its previously set target of raising INR 1,461.60 Cr ($166.01 Mn) in the seed funding round.

The Policybazaar parent revealed that it invested INR 539.40 Cr ($63.24 Mn) in the healthcare arm, only a few weeks ago.

The newly raised capital will be deployed in establishing PB Health's initial hospital network in Delhi NCR, while also accelerating product development and technological innovation.

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