Walden International has invested $6 million in Series A round for BankBazaar. Walden International was the sole investor for this round.
Founded by Arjun Shetty, Rati Rajkumar and Adhil Shetty, BankBazaar enables consumers to compare rates across different financial instrument and to apply for the loan online – the differentiator being real-time processing of applications.
“Currently, the process of applying for loans in India, from finding the best deal, applying and getting it processed is cumbersome and time consuming. BankBazaar.com’s solution not only helps the consumers in getting the best deals on the loans online, but also provides end-to-end fulfillment by enabling online processing of loans. No one in India is offering end-to-end fulfillment online, making BankBazaar.com’s proposition unique. It also helps banks in reducing the turn-around-time, enriching customer experience and reduces costs. This is a win-win situation for both banks and consumers. This makes the BankBazaar.com’s model extremely attractive.” commented Rajesh Subramaniam, Managing Director of Walden India, who joins the Board of Directors.
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