Finance Bazaar

lendingother lending

FOUNDING YEAR: 2011
LOCATION: India
Last Update: 08/09/2020

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About

FinanceBazaar is an online credit marketplace aggregating 500+ loan schemes from more than 30 Bank and non-bank finance companies in India. Our single goal is to bring all the loan schemes from all the banks under one roof. Presently aggregating home loans, sme loans, personal loans, loan against property, vehicle loans, large business loans, project finance and all other loans.

MEDICI Analysis

FinanceBazaar is an online marketplace to provide loan products of banks & NFBC's for helping indians to bring right loan product.

Focus

PRODUCTS & SERVICES

Exclusive Loan marketplace, it offers different loans products like startup loans, personal loans, property loans etc. It aims at protecting low income group from frauds, chit funds, ponzi schemes.

REVENUE MODEL

Banks and NBFCs pay between 0.6% to 3% of the Loan amount disbursed.

EXISTING PARTNERSHIPS

25+ Banks(SBI,ICICI,HDFC,IDBI) and NBFCs for easy loan.

PRIMARY PROBLEM SOLVED

FinanceBazaar.com solves the problem of lack of access to bank credit. With prevalent low levels of financial literacy among Indians, they lack the knowledge and awareness to make the right credit decisions. Borrowers run from one bank to another without being fully aware of the bank's credit policies and methodologies for sanctioning credit. Ultimately leading to poor credit history with high rejection rates by banks & NBFCs.

INTELLECTUAL PROPERTY

Patent(s) FILED

COMMENT

FinanceBazaar.com has developed a strong technology platform which makes research, comparison and application of financial products simple even for non-finance professionals who can research, compare and apply for products.

company provided insights

Traction

ACTIVE USERS:

700

ACTIVE USERS COMMENT:

Customer acquisition is ongoing. We require funds primarily for customer acquisitions.

People

FOUNDERS

Avik Kedia

BOARD MEMBERS AND ADVISORS

N V Ramana

NUMBER OF EMPLOYEES

1-10

Momentum

FUNDED

NO

TOTAL FUNDING

$200 K

DATE OF LAST FUNDING

2015

SEED & PRIOR FUNDING

$200 K

SEED CLOSED ON

Apr 2015

SEED PRIOR FUNDING COMMENT

Initial funding was raised from a group of investors to build the portal and bank tie-ups. Present number of bank tie-ups is at 32 Banks in India.

LISTED

NO

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FinanceBazaar

About

FinanceBazaar is an online credit marketplace aggregating 500+ loan schemes from more than 30 Bank and non-bank finance companies in India. Our single goal is to bring all the loan schemes from all the banks under one roof. Presently aggregating home loans, sme loans, personal loans, loan against property, vehicle loans, large business loans, project finance and all other loans.

Focus

PRODUCTS & SERVICES

FinanceBazaar.com aggregates home loans, sme loans, personal loans, loan against property, vehicle loans, large business loans, project finance and all other loans from more than 30 Banks and NBFCs in India.

REVENUE MODEL

Banks and NBFCs pay between 0.6% to 3% of the Loan amount disbursed.

TOP PROBLEM SOLVED

FinanceBazaar.com solves the problem of lack of access to bank credit. With prevalent low levels of financial literacy among Indians, they lack the knowledge and awareness to make the right credit decisions. Borrowers run from one bank to another without being fully aware of the bank's credit policies and methodologies for sanctioning credit. Ultimately leading to poor credit history with high rejection rates by banks & NBFCs.

PRODUCT DEVELOPMENT STAGE

COMMERCIAL LAUNCH

PRODUCT DEVELOPMENT COMMENT

We have commenced sourcing customers for banks. Typically borrowers prefer to apply on portals like BankBazaar.com and FinanceBazaar.com where they can apply to multiple banks at once.

KEY DIFFERENTIATORS

As opposed to competitors like BankBazaar.com and PolicyBazaar.com, FinanceBazaar.com is focussed exclusively on credit aggregation.

PRIMARY CUSTOMER TYPE

Enterprise - Banks or Financial Institutions

Traction

ACTIVE USERS/ACCOUNTS:

700 Million

ACTIVE USERS COMMENT:

Customer acquisition is ongoing. We require funds primarily for customer acquisitions.

LIVE USERS/TRANSACTIONS:

Yes, in live production

How will you grow the number of users/accounts/transactions?

Digital Marketing

CHANNEL STATUS

NO SALES YET

People

TEAM COMMENT:

We are hard-working, posses high perseverance,are committed to FinanceBazaar.com

Momentum

FUNDED

YES

FUNDING COMPLETED

NO

LISTED

NO

FUNDING SERIES
Seed
Apr 2015
USD200 K
at a USD500 Kvaluation
Comment on Seed
Initial funding was raised from a group of investors to build the portal and bank tie-ups. Present number of bank tie-ups is at 32 Banks in India.

Comment on Valuation

Post Money