Founded in March this year, Bestdealfinance which helps SMBs and startups with loans, has raised a funding of over Rs. 20 crore.
The funding was led by Kalaari Capital, YourNest Angel Fund, Globevestor and Dexter Capital. The funding will be used to invest in the company’s technology and also to expand its team.
Manavjeet Singh, founder and former senior president and head of retail banking at Yes Bank, said, “Banking market has been changing a lot over the last two years, so we plan to use technology and blend it with our sector expertise to help customers get loans. We have helped disburse Rs 150 crore in loans till now and plan to reach Rs 1,000 crore in the next six months. The portal, which has tie-ups with about 40 banks, lists over 96 products.”
The company claims that in the past seven months it has already processed 6,000 applications for loan. [source]