Business Description:BankBazaar.com is the world's first online marketplace which makes it possible for a loan-seeker to INSTANTLY get exact customized interest rate quotes online from multiple banks by filling a simple online form.
The customer does not even need to provide her/his name or contact information to get these customized offers. Our interface then makes it very easy to compare these offers and apply online directly to the bank of customer's choice. The end-to-end process literally takes less than fifteen minutes, and does not require any phone calls. Since many banks are competing in a neutral marketplace, comparing the costs of various offers is simple and customers get loans at the best interest rates possible.
Industry:Finance
Founded in:2008
Source of idea:Wanted it as an individual customer
Significant Competitors:apnaloan, deal4loan, rupeetimes, easyfinance
Company Details :
Company Name:www.BankBazaar.com
HeadQuarters:Chennai
Stage of the company:Scaling up
No of Employees (2006):Did not exist
No of Employees (2007):16-25
Office Locations(2006):Did not exist
Office Locations(2007):0-1
No of companies promoted:No
Profits (2006):Did not exist
Profits (2007):preprofit
>Partnerships:Current Partners on www.BankBazaar.com include HDFC Bank, ING Vysya, Deutsche Bank, ABN AMRO, Reliance Consumer Finance, AIG Consumer Finance, Kotak Mahindra Bank.
We are targeting to partner with all financial institutions to get the best deals for loans and insurance by the end of 2008.
Initial Funding:Family & friends
Addl Funding:Venture capital
Institutitional Capital:Yes
Revneue Model:We charge financial institutions a small fee for every loan disbursed through us.
Awards & honors:
Promoters Details :
Promoters Name(s):Adhil Shetty
Age:29
HomeTown:Chennai
Education:Masters
No of companies promoted:No
Family Background:First gen entrepreneur
Job:N.A. at Deloitte Touche Tomahatsu
Ex-Job Description:US East alliances
Favorite Book/Movie:2046- Won Kar Wai. Le Notte- Antionionni
