Online financial marketplace, BankBazaar.com said it has invested SGD 1 million in its Singapore arm – BankBazaar International as growth capital. The investment, which follows an initial capital outlay to establish the unit, will be used for scaling technology and to strengthen the company’s expansion efforts.
“BankBazaar is experiencing spectacular growth in India and we are looking to replicate that winning formula in Singapore. While the Indian market continues to be my focus, we believe the future of Fintech is global and Singapore is one of its capitals,” Adhil Shetty, co-founder and chief operating officer, BankBazaar, said in a statement.
Apart from Singapore, BankBazaar is also exploring markets in other Asian and select Middle Eastern markets.