BankBazaar seems to have a penchant for big name backers. Amazon led its $60 million Series C funding in 2015 while Experian is the main investor behind this Series D raise. The company didn’t specific the other participants in the round, but its existing backers include Sequoia, Eight Roads from Fidelity Growth Partners and Walden International.
To date, nine-year-old BankBazaar has raised $110 million from investors.
The company operates a one-stop portal for a range of financial services in India. It includes information about loans, credit cards, fixed deposits, insurance policies and lets visitors apply for services from more from over 75 financial institutions and insurance firms. In addition to its website, it offers Android and iOS apps and its customer support services span WhatsApp — India’s go-to messaging service — and more convenient communications points such as phone and email.
“Experian is a global leader in credit reporting and information management, and we are very excited to have them on board as a part of our investor group,” BankBazaar CEO Adhil Shetty said in a statement. “There is a natural synergy between the world’s largest information management company and one of the fastest growing fintech companies.”
Source: Tech Crunch