Walden International(WI), a leading global venture capital firm, is investing $6 million in leading financial services firm BankBazaar.com.
BankBazaar.com, a leading Financial Services, Technology and Internet play that enables consumers to avail best possible deals whilst applying for loans online. Superior technology enables in real-time processing of applications, which is a big differentiator.
"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," said Rajesh Subramaniam, Managing Director of Walden India, who joins the Board of Directors.
Commenting on the investment, CEO BankBazaar.com, Adhil Shetty said, "We are very excited about Walden joining BankBazaar.com as an investor. We believe Walden's track record in helping scale companies globally and their extensive network and experience in the financial services industry in India will benefit us significantly. The funding will help us in enhancing our reach to consumers and offerings across loan and insurance products, thus enriching customer experience. We will also leverage this investment to grow our world class team of financial services and technology talent . The opportunity to fundamenta
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