BankBazaar.com, leading financial website, on Tuesday announced it is investing one million Singapore dollars in its Singapore arm - BankBazaar International.
BankBazaar.com, leading financial website, on Tuesday announced it is investing one million Singapore dollars in its Singapore arm – BankBazaar International. The strategic decision was unanimously approved by the board members of BankBazaar.com, including investors such as Sequoia Capital and Amazon.com. The investment, which follows an initial capital outlay to establish the unit, will be used for scaling technology and its team to strengthen the company’s expansion efforts and establish the first financial marketplace in Singapore.
Adhil Shetty, co-founder and CEO, BankBazaar.com said, “BankBazaar is experiencing spectacular growth in India and we are looking to replicate that winning formula in Singapore. While the Indian market continues to be my focus, we believe the future of fintech is global and Singapore is one of its capitals.”
Speaking on the investment, Narain said: “The investment reflects the management’s support and the experience of investors like Amazon in building a strong foundation before embarking on our international offering here in Singapore.”