VARINDIA IT MAGAZINE

BankBazaar.com, India’s leading financial marketplace with 50 million visits per quarter, has raised US$30 million in a funding round led by Experian, the world’s largest credit rating agency and information Management Company. Speaking about the investment, Adhil Shetty, CEO, BankBazaar, said, “Experian is a global leader in credit reporting and information management, and we are very excited to have them on board as a part of our investor group which includes Amazon, Sequoia, Eight Roads (Fidelity Growth Partners), and Walden International. There is a natural synergy between the world’s largest information management company and one of the fastest-growing fintech companies. The funds from this round will be used to further strengthen our position as the leader in secure paperless access to loans, cards, and mutual funds. Experian will enable us to accelerate towards our vision of paperless access to all financial products.” Read More

BankBazaar app, the unique personal finance app from BankBazaar has surpassed one million downloads mark on Google Play Store. The app allows users to track transaction history across multiple savings accounts and credit cards on one single interface. The increasing number of downloads reflects the interest amongst India’s young and tech-savvy audience to opt financial services and products through mobile devices. The company attributes this growth to the recently integrated unique Personal Finance feature on the app, which makes it is something that can be used every day to keep track of your personal finances. The app enables users to manage every aspect of their financial life: savings, spends, and credit. The app provides you with a direct window into your financial situation, and gives a real time picture of the overall wealth size. The app tracks credit card billing cycle and give you reminders to pay your bill on time, thereby helping you to improve your credit score. T...