Financial services marketplace BankBazaar has raised Rs 29 crore as 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 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 Chennai-based startup. It has raised total funding of more than $110 million to date. Entrackr first reported on the financing round on Friday.
Regulatory filings revealed that BankBazaar has issued 12,337 Series D1 Compulsorily Convertible Preference Shares at an issue price of Rs 4,611.2 apiece to Amazon, amounting to Rs 5.68 crore. Walden SKT Venture Fund has pumped in Rs 7.1 crore while Sequoia has invested Rs 2.6 crore into the company.
Founded by Adhil Shetty, Arjun Shetty and Rati Shetty in 2008, BankBazaar competes with the likes of SoftBank-backed PolicyBazaar and Accel-backed Coverfox. It claims to offer services from more than 85 major public and private sector banks, NBFCs, and insurance companies in India.