Mumbai based online loan marketplace for individuals and SMEs has secured $3m in Series A funding led by Kalaari Capital. The company, started in February of this year, has partnerships with over 40 financial institutions in India and is working on integration agreements to offer a wide range of online products for customers to enable a fast and hassle-free loan process.
“Our business model is disbursement focused. In current market scenario, the customer is confused due to multiple touch points and hassled by a lengthy loan approval and disbursement process. We make the entire journey simple with our matchmaking algorithm helping customers to choose the best deal for their requirements and our integration with bank systems enabling a fast and hassle free loan process,” said Manavjeet Singh, co-founder of Bestdealfinance. “For customer, it is the best deal at quickest possible time and for lenders, it is an apt customer profile at lowest cost of acquisition,” Singh added.