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Amazon-backed online financial services startup BankBazaar raises USD 30 M in Series D

Photo from BankBazaar website

Online financial services marketplace BankBazaar lands USD 30 M for Series D

BankBazaar

Founder: Adhil Shetty, Arjun Shetty and Rati Shetty

Founded in: 2008

Financing status: USD 30 million for Series D round in 2017

Chennai-based online financial services marketplace BankBazaar has raised USD 30 million in a Series D funding round led by consumer credit reporting agency Experian.

BankBazaar is an online financial services marketplace. It helps users compare and choose financial products such as loans, insurance, credit cards, fixed deposits, saving accounts, mutual funds, etc. The startup claims to have partnered with over 80 financial organizations in India including nationalized and private banks, non-banking financial companies, and insurance companies. It has operations in Bangalore, Mumbai, and Gurgaon with a total of more than 1000 employees.

BankBazaar was founded in 2008 by Adhil Shetty, Arjun Shetty, and Rati Shetty. Adhil Shetty was previously a senior consultant of multinational professional services firm Deloitte and an engineer of U.S. technology conglomerate Cisco Systems. Arjun Shetty worked as a senior product manager of e-commerce giant Amazon. Rati Shetty previously served in a marketing capacity at Kraft Foods, the American grocery, manufacturing, and processing conglomerate.

The startup will use the newly raised investment to further strengthen its position as the leader in securing paperless access to loans, cards, and mutual funds, said by Adhil Shetty, co-founder & CEO of BankBazaar.

Other players with similar services in India include Policybazaar, Rubique, etc.

(Top photo from Pixabay)

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