INDIA: INDIA: BANKBAZAAR RAISES $30 MILLION FROM A UK BASED COMPANY - CALIPHATE MEDIA

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Thursday, 19 October 2017

INDIA: INDIA: BANKBAZAAR RAISES $30 MILLION FROM A UK BASED COMPANY



Image result for bankbazaar 


19 October, 2017

India financial marketplace BankBazaar an Indian financial marketplace has successfully raised $30 million (Rs191 crore)  in a new round of funding from Experian a UK-based credit rating agency and information management company.
 BankBazaar is Chennai-based company that helps people compare offers across various banks and non-banking financial companies (NBFCs) for products such as credit and debit cards, loans, savings and investment products, and insurance.

Experian is a London Stock Exchange listed credit rating agency and information management company with a total staff strength of17, 000 in over 37 countries of the world.
Image result for EXPERIAN

According to BankBazaar,the funds raised used to strengthen the company position as the leader in secure paperless access to loans, cards, and mutual funds,
 Adhil Shetty, chief executive officer at BankBazaar, said in a statement. “Experian will enable us to accelerate towards our vision of paperless access to all financial products,” he added. Earlier this year, Experian and BankBazaar tied up to provide customers with a free credit score service. The latest round values BankBazaar at $300 million, said two people aware of the development, requesting anonymity.
With this investment Experian now have 10% stake in BankBazaar valuing the company at $300 million, Amazon is one of the largest shareholder in BankBazaar holding approximately 17% stake.


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