Moneycontrol
Dec 11, 2017 03:48 PM IST | Source: Moneycontrol.com

BankBazaar plans to hire 300 people, sees 100% growth in traffic post demonetisation 

The company recently received a USD 30 million investment from Experian. This round of hiring supplements the first hiring round announced in March 2017.

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Chennai based financial services aggregator BankBazaar on Thursday announced plans to hire 300 new people in FY18 to support its expansion plans.

The company recently received a USD 30 million investment from Experian. This round of hiring supplements the first hiring round announced in March 2017.

At the close of the first round, there have been more than 400 hires till date, the company said in a statement.

BankBazaar has seen more than 20X growth in the last few years especially post demonetisation.

The company saw an increase from one million visits per month Month in January 2014 when Sequoia invested in Series B, which went up to 5 Million Visits/Month in June 2015 when Amazon invested Series C.

In October 2017, when Experian invested in Series D, the number had touched 23 million visits per month, more than 100 percent growth compared to October 2016.

The company plans to breach the 100 million visitors per quarter milestone in Q4 FY18.

Adhil Shetty, Co-founder, and CEO, BankBazaar, said: “Our Paperless financial services delivery mechanism is unique in the market and gives us a huge competitive edge in the long run. This clarity of vision has positioned us at the top of the financial services sector in India through increased customer adoption. We believe that FY18 will be a year of even more organic growth as India migrates to Paperless.”

The company has so far raised about USD 110 million through funding from investors such as Amazon, Experian, Fidelity Growth Partners, Mousse Partners, Sequoia Capital and Walden International.
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