BankBazaar raises $6mn from WSV and existing investors

The company will use the proceeds for accelerating the delivery of contactless personal finance products and business expansion in India.

Online financial services marketplace BankBazaar received $6 million in fresh financing as part of its ongoing Series D round. The latest capital infusion was led by WSV - a joint venture fund of Walden International and Korean company SKTA. Existing investors Amazon, Sequoia India, UK based credit rating bureau Experian and Eight Roads also pooled in the capital. The Chennai based company will use the proceeds for accelerating the delivery of contactless personal finance products and business expansion in India.

Adhil Shetty, CEO, BankBazaar, 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.”

The company believes that its mission of paperless access to the right credit products is the need of the hours during the COVID-19 crisis, and consumers, banks, government, and regulators have recognised this as the future.