ApnaPaisa Series B Led By JAFCO Asia, Sequoia Capital
Apnapaisa Pvt Ltd, which owns financial intermediary portals Apnaloan.com and Apnainsurance.com, has raised an undisclosed investment in its second round of funding from JAFCO Asia and the existing investor Sequoia Capital. Harsh Vardhan Roongta and Sequoia Capital had earlier invested $2.2 million in the company in April 2007.
Founded in 2000, the portal is one of the oldest portals in this business. It initially had backers like Rediff.com, ING Vysya Bank, SIDBI Venture, Jumpstartup Venture Fund, FMO and Edelweiss Capital, while many of them have exited already.
The loan origination market (including insurance products) is estimated at about Rs 1,500 crore currently.
The company plans to use the funding to better its product features, expand the existing lines of insurance categories, as well as expand into new areas of business.
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Filed under: Deal Tracker
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