Tech Financing in India this week – All about fintech

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.

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Photo from BankBazaar website

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.

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Photo from Pixabay

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.

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Photo from KrazyBee website

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.

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Photo from Flickr

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.

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(Top photo from Pixabay)

AllTechAsia Staff

AllTechAsia is a startup media platform dedicated to providing the hottest news, data service and analysis on the tech and startup scene of Asian markets in English.

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