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The Smart Techie was renamed Siliconindia India Edition starting Feb 2012 to continue the nearly two decade track record of excellence of our US edition.

April - 2011 - issue > Venture Beat

BankBazar.com Raises Rs 27 crore in Series A

ST Team
Monday, April 4, 2011
ST Team
BankBazaar.com, an online provider of customized rate quotes on loans and insurance products, raised Rs 26.7 crore in a Series A round lead by Walden International. The company which is targeting the growing Indian Internet savvy consumers is planning to use this fund to increase their offerings and to improve their customer reach.

“We will also leverage this investment to grow our world class team of financial services and technology talent. The opportunity to fundamentally shape financial services delivery in India lies ahead of us and we will bring on board the best talent globally to drive this change,” says Adhil Shetty, CEO, BankBazaar.com.

BankBazaar, while operating in the $1 billion market, has partnered with banks like HDFC, Axis Bank, Standard Chartered, Deutsche Bank, ING, Kotak Mahindra, and ICICI Bank to offer real time interest rate quotes and approvals on loans. “Competition operates on a lead referral model which involves intrusive calling from call centers to consumers’ cell phones to sell loans. BankBazaar offers real time integration and rate quotes in a non intrusive process,” adds Shetty while talking about the competition.
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