Tag: TMT

BankBazaar bags new investment from Amazon in series D funding

This current funding comes more than two and a half years after the global credit rating agency Experian had led a $30 million financing round into the company. It has raised total funding of more than $110 million to date.

BankBazaar, the online marketplace is responsible for aiding customers compare and choose financial products which includes credit cards, insurance, fixed deposits, saving accounts, mutual funds and others over a very secure, user friendly, and intuitive platform. It was Founded in 2008 by Adhil Shetty, Arjun Shetty, and Rati Shetty,

BankBazaar has partnerships with more than 80 financial organizations in India including the largest nationalized and private banks, NBFCs and insurance companies so as to offer a never before range of financial products and services.

Bank bazaar is supported by global investors including Sequoia Capital, Walden International, Amazon, Fidelity Growth Partners and Mousse Partners. Bank Banzaar has bagged Rs 29 crore as a part of its ongoing Series D round from existing investors including Amazon, Sequoia and Walden SKT Venture Fund, according to its filings with the Registrar of Companies.

This current funding comes more than two and a half years after the global credit rating agency Experian had led a $30 million financing round into the company. It has raised total funding of more than $110 million to date.

“The funds from this round will be used to further strengthen our position as the leader in securing paperless access to loans, cards, and mutual funds,” Adhil Shetty, chief executive of BankBazaar said.

The company had last raised $59.1 million in a Series C round in July 2015 from Amazon, Fidelity Growth Partners, Mousse Partners and existing investors Sequoia Capital and Walden International. In January 2014, it had raised $13 million in Series B funding led by Sequoia Capital with participation from Walden International.

BankBazaar has issued 12,337 shares to Amazon for INR 5.6 Cr, 15,421 shared to Walden SKT Venture Fund for INR 7.1 Cr, 4,978 shares to GUS Holdings for INR 2.2 Cr, 5,782 shares to Sequoia for INR 2.6 Cr and 3,338 shares to Eight Roads for INR 1.5 Cr.

Agritech platform DeHaat raises $12M in Series A led by Sequoia Capital

It is indeed a proud moment for startup ecosystem of Bihar. Agritech platform DeHaat has raised Series A funding of $12 million led by Sequoia Capital.

Agritech platform DeHaat has raised Series A funding of $12 million led by Sequoia Capital. DeHaat was founded in 2012 by IIT, IIM, and NIT alumni Shashank Kumar, Amrendra Singh, Adarsh Srivastav, Shyam Sundar Singh, and Abhishek Dokania.

It is a technology-based platform offering full-stack agricultural services to farmers, including distribution of high quality agri inputs, customised farm advisory, access to financial services, and market linkages for selling their produce.

DeHaat eases the burden on farmers by bringing together brands, institutional financers and buyers on one platform.

It had earlier raised a $4 million pre-Series A round in March 2019, led by Omnivore and AgFunder, which was topped up in May 2019 with an additional $3 million of venture debt from Trifecta Capital.

Shashank Kumar, Co-Founder and CEO of DeHaat, said: “We are excited to partner with Sequoia India and FMO as we drive towards one million farmers on the DeHaat platform. Sequoia’s deep expertise in B2B platforms and technology products, combined with FMO’s expertise in agricultural value chain financing, will help DeHaat accelerate its growth while delivering massive impact for the farmers we work with.”

DeHaat does not charge any fee for its advisory, but takes a cut whenever farmers use its platform to buy agri-inputs or sell their crop yields.

The company today operates in 20 regional hubs in the eastern part of India — states such as Bihar, Uttar Pradesh, and Jharkhand and serves more than 210,000 farmers.