Noida-based Deal4Loans, a B2C loans marketplace, has raised an undisclosed amount of funding from high profile investors. These investors include Ram Shriram (founding board member and one of the first investors in Google), Neeraj Arora (WhatsApp global business head and a Board Member of Paytm), and Puru Vashishtha (previously an investor on Wall Street hedge funds including Soros Fund Management).
Puru, a Stanford alumni and previously based in Palo Alto (California), has moved his base to India to join the Board of Deal4Loans and will work closely with Rishi Mehra, founder and CEO of Deal4Loans, to help steer the next stage of hyper growth for the company.
Deal4loans board will now comprise of Puru Vashishtha and Rishi Mehra.
Founded in 2009 by Rishi Mehra, Deal4Loans is a B2C loans marketplace. It is a neutral marketplace that offers customers a completely independent loan comparison service. The startup’s technology helps acquire customers at a fraction of the cost that competitors, offline-marketing companies, and banks spend on the same.
The startup claims to be a core data science and technology company whose proprietary algorithms enable it to cost effectively acquire customers and match make them with the most suitable product as per their profile.
Deal4Loans has facilitated disbursal of more than INR 10,000 Cr. in loans through its platform.
“Deal4Loans is fundamentally transforming access to financial products and improving choice for the consumer by leveraging technology. Deal4Loans’ deep technology edge and algorithms attracted me to invest in the company. Digitisation of banks is a reality that Indian banks will have to adapt to. This is a big market opportunity to reach new consumers and banks will need a technology partner of the caliber of Deal4Loans to help them move to new Digital Banking age”, said Ram Shriram, a founding board member and one of the first investors in Google.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.
