Securing capital infusion to accelerate growth, Bestdealfinance.com on Tuesday announced having raised $3 million (Rs. 19.8 crore) in Series-A funding.
The funding round was led by Kalaari Capital with participation from YourNest Angel Fund, and Globvestor & Dexter Angel Circle, according to a company statement.
Bestdealfinance is India’s first financial services portal that provides a technology-enabled end-to-end solution addressing the loan needs of individuals and MSMEs. This funding will enable Bestdealfinance.com to further accelerate growth and invest in technology infrastructure, people, and customer support.
Founded by Manavjeet Singh and Sandeep Nambiar, the company, launched in February 2015, has disbursed over Rs. 150-crore worth of loans, empanelled over 1,000 business associates and has a customer base of more than 9,400 registered users.
Manavjeet Singh, CEO, said the disbursement-focused business model makes it easier for the customers to choose the best deal for their requirements. Its integration with bank systems enables a fast and hassle-free loan process, he added.
Bestdealfinance.com has partnership with over 40 financial institutions (banks and NBFCs) and is working on integration agreements to offer a wide range of online products for customers.
Currently present across Mumbai, Delhi, Kolkata and Pune, the company is looking to expand its footprint in Bengaluru, Chennai and Hyderabad.