BankBazaar.com
BankBazaar.com (Tamil: பேங்க்பஜார்.காம்) is an online loan marketplace based in Chennai, India. Adhil Shetty, Arjun Shetty and Rati Rajkumar founded BankBazaar.com in 2008 and launched it online in July 2008. The product line includes unsecured personal loans, home loans, home loan transfers, loans against property and car loans.
Bankbazaar.com's founding team have previously worked for firms including Amazon.com, Kraft Foods, Deloitte Consulting and Capital One.[1][2] In May 2009, MSN India partnered with BankBazaar.com for financial content.[3] Business Today magazine featured BankBazaar.com as one of 'India's Hottest Start-ups' in 2010.[4] Entrepreneur magazine has also featured BankBazaar.com in its June 2010 issue[5]
Bankbazaar.com's partner banks include Indian and foreign banks including ING,[6] Axis Bank, Deutsche Bank, Citifinancial, HDFC Bank, Kotak Mahindra Bank, Housing Development Finance Corporation, ICICI Bank and Reliance Consumer Financial.
Locations
BankBazaar.com's headquarters are based in Kodambakkam area of Chennai. The company has a software development center in Bengaluru.
Products and services
- BankBazaar.com's product lines include personal loans, home loans, home loan refinancing & car loans.
- Axis Bank, India's third largest private sector Bank, uses BankBazaar-powered technology to service Home Loan & Car Loan seeking customers on its website www.axisbank.com.[7][8] Axis Bank also uses BankBazaar-powered technology to offer an Instant Car Loans at car dealerships and Axis Bank branches[9][10][11]
- HDFC Bank, India's second largest private sector bank, uses BankBazaar-powered technology to service Credit Card, Personal Loan and Car Loan seeking customers on its website www.hdfcbank.com. Applicants are redirected to www.HDFCBankSmartApply.com to complete their credit card and loan applications.
- HDFC Ltd, India's largest private sector housing finance company, uses BankBazaar-powered technology to service Home Loan seeking customers on its website www.hdfc.com. Applicants are redirected to www.HDFCInstantHomeLoans.com to complete their home loan applications.
Website
Reviews
BankBazaar.com allows users to provide reviews for each product. Reviewers can rate the product on a rating scale from one to five stars.
Funding
BankBazaar.com started with initial investment from the founders and angel investors. In mid 2008, BankBazaar received funding of 1 million USD from A.V. Thomas Infotech[12] (a part of the A.V. Thomas Group of companies). In March 2011, BankBazaar.com received an investment of 6 million USD from Walden International, an international Venture Capital firm with over $1.6BN in investments.[13][14][15][15]
Advisory board
- Arvind Panagariya, Bhagwati Professor of Economics at Columbia University and retired Chief Economist at the Asian Development Bank
- N Rangachary, founding Chairman of the Insurance Regulatory and Development Authority (IRDA) of India
- V. P. Shetty, director of JM Financial Securities Pvt. Ltd., chairman of Indian Banks Association 06-07, Retired Chairman & Managing Director - IDBI Bank, Canara Bank and UCO Bank
- Suresh Talwar, partner at Talwar Thakore & Associates, director at Cadbury India, Birla Sun Life and BioCon
References
- ^ http://www.bankbazaar.com/aboutus.html
- ^ "ET Slide Shows". The Economic Times. http://economictimes.indiatimes.com/quickiearticleshow/4322401.cms.
- ^ (Press release). Business Standard. http://www.business-standard.com/india/news/tread-cautiouslygrowth-inflation-trade-off/62650/on.
- ^ "Opinion". Business Today. 27 June 2010. http://businesstoday.intoday.in/bt/story/5683/1/banking-on-transparency.html.
- ^ "Opinion". Entrepreneur. June 2010. http://entrepreneurindia.in/the-loan-rangers/4185.
- ^ (Press release). Business Standard. http://www.business-standard.com/india/storypage.php?leftnm=press&autono=338293.
- ^ "(Press Release) Axis Bank Offers Online Loan Application Facility on its Website". India PR Wire. 27 June 2011. http://www.indiaprwire.com/pressrelease/financial-services/2011062790413.htm.
- ^ "(Press Release) Axis Bank Offers Online Loan Application Facility on its Website". New Kerala. 27 June 2011. http://www.newkerala.com/news/2011/worldnews-13581.html.
- ^ "Axis Bank launches Insta Car Loans". Yahoo Finance. 27 December 2011. http://in.finance.yahoo.com/news/axis-bank-launches-insta-car-082613092.html.
- ^ "Axis launches instant auto loan scheme". Express India. 26 December 2011. http://www.expressindia.com/latest-news/Axis-launches-instant-auto-loan-scheme/892363/.
- ^ "Axis launches instant auto loan scheme". Money Control. 26 December 2011. http://www.moneycontrol.com/news/business/axis-launches-instant-auto-loan-scheme_639776.html.
- ^ "BankBazaar: The Loan Ranger". The Economic Times. 7 August 2009. http://economictimes.indiatimes.com/opinion/india-emerging/BankBazaar-The-Loan-Ranger/articleshow/4865273.cms.
- ^ "Walden invests in Bankbazaar". Times of India. 19 March 2011. http://articles.timesofindia.indiatimes.com/2011-03-19/india-business/29146040_1_adhil-shetty-consumers-win-win-situation.
- ^ "Walden invests $6 mn in BankBazaar.com". Economic Times. 18 March 2011. http://articles.economictimes.indiatimes.com/2011-03-18/news/29141735_1_insurance-products-global-fund-investments.
- ^ a b "Walden invests $6 million in Bankbazaar.com". Rediff Business. 18 March 2011. http://www.rediff.com/business/report/walden-invests-6-million-dollars-in-bankbazaar/20110318.htm.
External links