Our weekly column summarizes the tech financing highlights in India this week.
It is all about fintech in this week’s Indian tech market. Online insurance aggregator PolicyBazaar raised the largest amount investment with USD 77 million. Online financial services marketplace BankBazaar secured USD 30 million and came in second while online car insurance platform RenewBuy landed in third with USD 9.2 million. Two other online fintech startups, student focused micro-lending platform KrazyBee and P2P lending platform LenDen Club, likewise received funding.
Online insurance aggregator PolicyBazaar secures USD 77 M for Series E
PolicyBazaar
Founder: Yashish Dahiya, Alok Bansal and Avaneesh Nirjar
Founded in: 2008
Financing status: USD 77 million for Series E round in 2017
Online insurance aggregator PolicyBazaar last Friday secured USD 77 M for Series E to expand across international markets, particularly, the Middle East.
Online financial services marketplace BankBazaar raises 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
Online financial services marketplace BankBazaar on Tuesday raised USD 30 M for Series D 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.
Online car & motorbike insurance platform RenewBuy raises USD 9.2 M
RenewBuy
Founders: Indraneel Chatterjee, Balachander Sekhar, Sandeep Nanda, Sandeep Nanda, Devesh Joshi
Founded in: 2016
Financing status: USD 9.2 million for undisclosed round in 2017
Online car & motorbike insurance platform RenewBuy on Monday raised USD 9.2 M to expand its services to health, accident and life insurance.
Online micro-lending platform KrazyBee raises USD 8M
Founders: Madhusudan E., Hong Wan (Chinese)
Founded in: 2015
Financing status: USD 8 million for undisclosed round in 2017
Online micro-lending platform KrazyBee on Monday raised USD 8 million to increase the loan book, strengthen its technology, and expand to more cities.
Online P2P lending startup LenDen Club raises USD 500K
LenDen Club
Founders: Dipesh Karki, Bhavin Patel
Founded in: 2014
Financing status: USD 500,000 for undisclosed round in 2017
Online P2P lending startup LenDen Club on Wednesday raised USD 500,000 to enhance its product platform and improve tech automation. With the investment, LenDen Club can reach the minimum capital requirement of INR 20 million (USD 310,000) for registration of the recent directive on P2P lending set by the Reserve Bank of India.
(Top photo from Pixabay)
