Policybazaar Co-Founder & CEO Yashish Dahiya. Photo credit: Eóin Noonan/MoneyConf via Sportsfile, under Creative Commons license

Policybazaar, an Indian online insurance platform, is eyeing $250 million in new financing that’ll value it at more than $2 billion, as first reported by Bloomberg. In a statement, Policybazaar’s chief executive, Yashish Dahiya, said the company is targeting a new financing round as well as a public listing by next year. Already, Policybazaar is vetting potential lead underwriters for a public listing. “The IPO size will be about $500 million,” Dahiya said, hinting at how much Policybazaar intends to raise in the case of a public listing. “We have global interest and will raise in the coming weeks,” he also said as regards the new private financing.

Already, Policybazaar has raised hundreds of millions of dollars in private funding. Investors in the company include the likes of SoftBank, Tencent, Wellington Management, and Temasek Holdings. A most recent investment from Tencent is said to have valued the Indian company at $1.5 billion.