BankBazaar looks to do a Paytm, turns white knight for sacked staff, set to hire 400

By: | Updated: March 9, 2017 2:12 PM

After similar gestures by Paytm and other start-ups, now it its the turn of BankBazaar to play the white knight for scores of laid off employees.

Over the last nine months, the company has grown from 8 million visitors in March 2016 to 14 million visitors in January 2017, 56% of which comes from the mobile site.

After similar gestures by Paytm and other start-ups, now it its the turn of BankBazaar to play the white knight for scores of laid off employees. The Chennai-headquartered online financial marketplace BankBazaar is planning to increase its workforce by 400 with a view to strengthening its business growth and the company will reach out to enterprises that have been recently involved in a downsizing exercise or have stopped business operations to seek right set of talent.

Over the last nine months, the company has grown from 8 million visitors in March 2016 to 14 million visitors in January 2017, 56% of which comes from the mobile site. It will be hiring across technology, product, and operational roles with more focus on product development and supply chain of financial products. Presently, BankBazaar’s employee strength stands at 1,050, which is expected to grow by 30-40% by the end of December 2017.

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Adhil Shetty, co-founder and CEO, BankBazaar said, “The last one year has been a fantastic time for BankBazaar, and we have seen so many new highs. Today, with over 14 million unique visitors in one month, we are the most sought after online financial marketplace in India. This has been possible by our investors who invested such trust in us and our business, and the brilliant team which has pulled out all stops time and again to make innovation and disruption our mantra for success. It is thanks to them that even as so many organizations find sustainability difficult, BankBazaar is talking of profitability. In the coming year, we look forward to growing even more with a stronger team that can keep up the momentum of innovation.”

BankBazaar has been closely working with leading financial institutions to enable seamless integration of customer-focused technologies such as paperless finance and app-based financial services through Aadhaar e-KYC and e-Sign framework.

The company has raised $80 million through funding from investors such as Amazon.com, Fidelity Growth Partners, Mousse Partners, Sequoia Capital and Walden International.

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