PB Fintech expands Dubai footprint, invests ₹20 crore in payments arm
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PB Fintech , the parent company of Policybazaar and Paisabazaar, on Tuesday approved the incorporation of two step-down subsidiaries in Dubai and authorised an investment of up to ₹20 crore in its wholly owned payments subsidiary, PB Pay Pvt Ltd, as it expands its international insurance business and strengthens its fintech operations.
The company's M&A and Investment Committee approved the incorporation of Policybazaar Financial Advisors (DIFC) LLC and PB Re Brokers (DIFC) LLC in the Dubai International Financial Centre (DIFC). Both entities will be wholly owned by PB Fintech FZ LLC, the company's overseas wholly owned subsidiary in the UAE, making them step-down subsidiaries of PB Fintech.
The proposed Policybazaar Financial Advisors entity will seek a Category 4 licence from the Dubai Financial Services Authority (DFSA) to undertake regulated activities including advising on financial products and arranging deals in investments related to long-term insurance contracts. PB Fintech FZ LLC will invest up to AED 1.5 million (around ₹4 crore) in the venture.
Meanwhile, PB Re Brokers (DIFC) LLC will apply for a DFSA licence to operate as a reinsurance broker and Managing General Agent (MGA) within the DIFC. The company has approved an investment of up to AED 1.7 million (around ₹5 crore) in the proposed entity.
PB Fintech has had a presence in the UAE since 2018 through PB Fintech FZ LLC, which operates an online financial marketplace in the country. The latest move broadens its regional footprint into regulated insurance advisory and reinsurance businesses.
Separately, the board committee approved an investment of up to ₹20 crore in PB Pay Pvt Ltd, the company's wholly owned subsidiary, through one or more tranches by subscribing to equity shares. The capital infusion is intended to support business expansion and help PB Pay meet the Reserve Bank of India's capital adequacy and net worth requirements for operating as a payment aggregator.
PB Pay, incorporated in April 2024, received the RBI's in-principle authorisation to operate as an online payment aggregator in April 2025 and was granted the Certificate of Authorisation in February 2026 to commence operations under the Payment and Settlement Systems Act, 2007. The company had not commenced business operations as of March 31, 2026, and reported nil turnover for the fiscal year.
PB Fintech said the ₹20 crore investment would not alter its ownership in PB Pay, with the subsidiary continuing to remain 100% owned by the company.
Shares of PB Fintech ended 1.04% higher at ₹1,640 apiece on the NSE on Tuesday. However, the stock has declined nearly 10% over the past year, underperforming the Nifty Midcap 50 index, which has gained about 5% during the same period.