Apnaloan.com announces Sequoia Capital Investment
Apnaloan.com Services Pvt. Ltd. (www.apnaloan.com), a leading online market player for consumer loans and credit cards in India announced that it has closed a financing round led by Sequoia Capital India..
Apnaloan.com is India's largest on-line marketplace and information portal for loans and credit cards. It offers on-line calculators, as well as exhaustive content allowing customers to compare the cost of borrowing from various lenders and guidance on better borrowing methodologies.
"Our central philosophy is to be a counselor to the customer and a partner to the participating banks and DSAs. Our content enables the consumer to make an informed choice while lenders are able to use Apnaloan.com as an option that delivers highly targeted prospective consumers to reduce overall origination costs as well as a highly specialized media platform to strengthen their brand relationship with current and future customers," Mr. Roongta said.
Said Harsh Roongta, CEO, Apnaloan.com, "Our goal is to make Apnaloan a dominant consumer media brand and a household utility, delivered via the internet, mobile phone and call center. We will be using this round of capital to help us to significantly improve our consumer offering and provide self service options to our participating lenders."
"We are very pleased to be partners with Harsh and the management team at Apnaloan" said KP Balaraj, Sequoia Capital India Managing Director. "We are excited about the scale of his vision in creating a household media brand for Apnaloan."
Sequoia Capital is among the most active private equity investors in India, having invested in over 30 companies in India in the past few years, including market leaders such as Bharti Telesoft, Idea, Coffee Day, Firstsource, Indiatimes, Shaadi and Travelguru.
ABOUT APNALOAN.COM
Apnaloan.com is India's largest online marketplace for loans and credit cards. Over 300,000 consumers have purchased a loan product with the assistance of Apnaloan.com to date, and many more have used the site to make a better, more informed decision to buy a home, get a credit card or to borrow money.About Sequoia Capital
Sequoia Capital provides venture capital funding to founders of startups who want to turn business ideas into enduring companies. As the "Entrepreneurs Behind the Entrepreneurs", Sequoia Capital's Partners have worked with innovators such as Steve Jobs of Apple Computer, Larry Ellison of Oracle, Bob Swanson of Linear Technology, Sandy Lerner and Len Bozack of Cisco Systems, Dan Warmenhoven of NetApp, Jerry Yang and David Filo of Yahoo!, Jen-Hsun Huang of nVIDIA, Michael Marks of Flextronics, Larry Page and Sergey Brin of Google, Chad Hurley and Steve Chen of YouTube, Dominic Orr and Keerti Melkote of Aruba Wireless Networks and Jonathan Kaplan of Pure Digital. To learn more about Sequoia Capital visit www.sequoiacap.com.
Contact:
KP Balaraj
SEQUOIA CAPITAL
kp.balaraj@sequoiacap.com
