BankBazaar raises Rs 55 crore; enters gold loan business with Muthoot Fincorp

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Loan sourcing platform BankBazaar has raised Rs 55 crore in fresh funding from a group of investors, including gold loan company Muthoot Fincorp and existing backers such as Walden International. The funding was at a flat valuation of approximately Rs 1,700 crore ($200 million) for BankBazaar.

Muthoot Fincorp pitched in with Rs 15 crore in this round. Speaking to ET, Adhil Shetty, cofounder of BankBazaar, said the investment is an extension of its previous funding round from December 2023.

“The round hasn’t closed yet; we’re keeping our options…



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BankBazaar raises Rs 55 crore; enters gold loan business with Muthoot Fincorp


Loan sourcing platform BankBazaar has raised Rs 55 crore in fresh funding from a group of investors, including gold loan company Muthoot Fincorp and existing backers such as Walden International. The funding was at a flat valuation of approximately Rs 1,700 crore ($200 million) for BankBazaar.

Muthoot Fincorp pitched in with Rs 15 crore in this round. Speaking to ET, Adhil Shetty, cofounder of BankBazaar, said the investment is an extension of its previous funding round from December 2023.

“The round hasn’t closed yet; we’re keeping our options…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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