BankBazaar Raises $13 mn funding from Sequoia Capital & Walden

BankBazaar, a Chennai based financial services portal has raised $13 mn from Sequoia Capital and Walden International, says a new report.Founded in 2008, BankBazaar aggregates and sells loan products, insuance and deposits from different banks.

BankBazaar had raised $6 mn from Walden in 2011. The TOI reports that the company is looking to disburse Rs 3000 cr of loans this fiscal.

Personal finance startups in India have found it difficult to survive.  Earlier, we’d reported the shutdown of InvestoPresto and MoneySights. Others like Paisa.com have also not survived. Others such as FundsIndia are taking on the personal finance market with mutual funds and systematic investment plans.

PolicyBazaar, owned by Info Edge, sells insurance policies online. Sequoia & Jafco Asia have invested in Apnapaisa, another personal finance company.

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