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BankBazaar secured INR 45 Cr to offer contactless finance products

BankBazaar, a Chennai based online financial services marketplace with more than 100 million visits per quarter has now secured INR 45 crore in funding round from new investor WSV.

The round also includes some of the existing investor’s Sequoia India, Eight Roads, Amazon and Experian.

In a statement, the company revealed that the latest capital secure is a part of the BankBazaar Series D1 equity financing round, and the proceeds are earmarked for accelerating the delivery of contactless personal finance products and business expansion in India.

Adhil Shetty, CEO, BankBazaar, said,

“BankBazaar has spent the last decade in building world-class infrastructure to enable Indians to access financial products online from leading lenders across the country. In the post-COVID-19 world, the demand for contactless finance is going to grow exponentially, and this round of funding will help us accelerate our plans to implement contactless access to credit. This round of funding reiterates our investors’ trust in our vision of contactless finance as the future of personal finance and in our ability to make it a reality.”

“BankBazaar is creating the ‘Credit Karma’ of India with leading edge technology, a stellar team, and the support of an incredible set of strategic investors. We can’t wait to see how they help revolutionize the Indian financial services sector,” added Andrew Kau, General Partner with WSV.

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