Financial services portal BankBazaar raises $13M in Series B led by Sequoia Capital
Summary
Financial services portal BankBazaar raises $13M in Series B led by Sequoia CapitalChennai-based A & A Dukaan Financial Services Pvt Ltd, which operates a loan information and processing portal under the brand BankBazaar.com, has raised more than $13 million (Rs 80 crore) in a Series B round led by Sequoia Capital, with participation from existing investor Walden International. The company claims that it will close the current financial year (FY2013-14) with loan dispersals worth Rs 3,000 crore.The latest investment was completed a few weeks ago, one source said without sharing more details or confirming the deal value.BankBazaar was set up in 2008 by siblings Adhil and Arjun Shetty, along with Rati Rajkumar. Rati Rajkumar (chief product officer) holds a bachelor\xe2\x80\x99s degree in Business Administration from MOP Vaishnav College. Prior to co-founding BankBazaar, she worked at Kraft Foods in the US and Taiwan.BankBazaar is an online marketplace that provides instant customised rate quotes on loans and insurance products. There are a number of firms in the financial services domain catering to information related to insurance policies, mutual funds and the like.