BankBazaar.com, an online portal, that describes itself as a neutral online market place for customised quotes for loans and insurance requirements, has raised $6 million as venture capital funding.

The funding has come from Walden International (WI), a leading global venture capital firm, which was the sole investor for this round. BankBazaar had earlier raised about $1.2 million from A.V. Thomas Infotech as part of its Angel round of funding.

Mr Adhil Shetty, CEO, BankBazaar, said that the objective of this round of funding was to provide resources for hiring and expanding its 14-member team and to fund advertising campaigns to promote its products.

Mr Rajesh Subramaniam, Managing Director, Walden India, said that his company was investing for the long term. Asked to elaborate, he said, they stay invested in companies for three to 20 years. There would be no pressure from them for an IPO, he said. He pointed out that they had remained with MindTree for 12 years.

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