Info Edge invests Rs 20 crore in eTechAces

MUMBAI: Leading Internet company, Info Edge, on Thursday announced an investment of Rs 20-crore towards a 49 per cent equity stake in eTechAces Marketing and Consulting Private Limited.

The investment would be made in tranches based on performance milestones, a press release issued here stated.

eTechAces Marketing is a company in the business of distributing financial products online.

eTechAces Marketing and Consulting is headed by a team of professionals experienced in the financial and the travel sector and having run similar businesses with a global footprint.

Info Edge (India)'s CFO and Director, Ambarish Raghuvanshi, said that "eTechAces has a great management team and a differentiated approach to distributing financial products online, by empowering the customer to enable comparison of available options and make an informed data-driven decision."

"The company's bouquet of products include insurance products to be sold online, which is so far an untapped area in India. In other countries, especially in Europe, it is a high-growth category," Raghuvanshi said.

Earlier, this year, Info Edge had announced an investment of Rs 6.5-crore for a 40 per cent stake in Applect Learning Systems.