BankBazaar raised Rs 8.2 cr from Amazon

Online financial services marketplace BankBazaar raised Rs 8.2 crore in bridge financing from Amazon, Gus Holdings along with co-founders Arjun Shetty and Adhil Shetty.

BankBazaar helps consumers compare offers across various banks and non-banking financial companies for products including credit cards, loans, savings, investment products, and insurance. It claims to have onboarded 50 banks with over 2.3 crore customers on its platform.

BankBazaar said, “Between October 2019 and February 2020 we saw a 90% increase in monthly organic traffic along with a 53% increase in monthly revenue and a 15% reduction in costs during the same period.”