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BankBazaar.com on Thursday raised ₹375 crore ($60 million) in its series C round of funding led by Amazon with participation from Fidelity Growth Partners and Mousse Partners.
Existing investors “Existing investors Sequoia Capital and Walden International also participated in the Series C funding round,” the online financial services firm said in a statement.
“The funds will be primarily deployed towards technology integration, hiring and strengthening partner relationships…in order to grow in the online financial services category…
“The company will also invest to upscale its marketing and branding effort to reach out to a larger number of consumers,” it further said.
Expansion plans “We are currently looking to expand the category (online consumer segment) as we reinvest all earnings in growing the business… We aim to simplify the sourcing of best financial services — be it loans, credit cards and other personal finance products — for consumers,” said Adhil Shetty, Chief Executive Officer, BankBazaar.com.
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