BankBazaar raised Rs 45 crore in ongoing round led by WSV


BankBazaar raised Rs 45 crore in its ongoing Series D round led by WSV-a joint venture fund of Walden International and Korean company SKTA, along with BankBazaar's existing investors, which includes, Amazon, Sequoia India, Experian & Eight Roads


The Chennai-headquartered online financial marketplace will use the proceeds to accelerating the delivery of contactless personal finance products and business expansion in India, the statement said.


"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," Adhil Shetty, chief executive of BankBazaar, said.


Between October 2019 and February 2020, BankBazaar saw a 90% increase in monthly organic traffic and its registered customer base rose to over 40 million, the statement said, adding that the company saw a 53% increase in monthly revenue and a 15% reduction in costs during the same period.


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