Paytm may acquire Coverfox for $100 Mn-$120 Mn in an all-cash deal. Coverfox is a Mumbai-based online insurance startup. It uses technology & algorithm-based platform for users to compare & buy policies. Paytm will become a direct competitor to PolicyBazaar, if the deal goes through. Coverfox has integrated 35 insurers & offers over 150 policies in motor, life & health insurance.
