Noida-based Deal4Loans provides information on personal loans, credit cards, home loans, car loans, and business loans in India from different banks
Deal4Loans, an online loans comparison portal in India, has received an undisclosed sum in funding from 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 of Wall Street hedge funds, including Soros Fund Management.
As per the agreement, Vashishtha has joined the Board of Deal4Loans. He will work closely with its Founder and CEO Rishi Mehra to help steer the next stage of growth.
“Indian fintech is entering a very exciting phase and Deal4Loans is best positioned to capture the hockey stick growth in that space, as it is the biggest financial marketplace in India. As a longtime investor in Indian banks and NBFCs, I have a good understanding of this space. Deal4Loans.com is trusted by 7 million Indian consumers to deliver to them the best financial product, and that trust is invaluable,” said Vashishtha.
Founded in 2008, Noida-based Deal4Loans is a loan information portal, providing information on personal loans, credit cards, home loans, car loans, and business loans in India from different banks. It is 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. It is a neutral marketplace that offers customers an independent loan comparison service.
Deal4Loans claims that its technology prowess has helped it acquire customers at a fraction of the cost that competitors, offline-marketing companies, and banks spend on the same. Its customers are millennials, with 95 per cent in the 24-39 age bracket.
The startup claims it has facilitated disbursal of more than INR 10,000 crore (US$667 billion) in loans through its platform.
Shriram is a legendary investor in Silicon Valley and a serial entrepreneur. He was part of leadership team at Junglee.com, and worked closely with Jeff Bezos, when Junglee was acquired by Amazon.com. Shriram was also an early member of the Netscape executive team. Some of his investments include online retailer Zazzle, Paperless Post and DataFox Intelligence. He is also an investor in InMobi, a global mobile ad network, based out of India.
Arora is one of the most respected Indians in Silicon Valley. He was Head of Business at WhatsApp, and was instrumental in WhatsApp’s growth and its ultimate acquisition by Facebook. Prior to WhatsApp, he was part of Google’s Corporate Development Team.
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