India-based financial services marketplace BankBazaar has secured Rs 3.75bn ($60m) in a series C round led by e-commerce company Amazon, the Economic Times has reported.
Fidelity Growth Partners, a subsidiary of financial services firm Fidelity, family office Mousse Partners and venture capital firms Sequoia Capital and Walden International also contributed to the round.
Founded in 2008, BankBazaar enables consumers to compare loan, credit card and insurance products from 23 financial services providers.
The company plans to use the series C funding to increase marketing efforts, hire more staff, form additional partnerhips and further develop its technology, which includes a smartphone app.
BankBazaar raised $13m in a January 2014 series B round featuring Walden and Sequoia. Walden also provided $6m in series A funding for the company in 2011.
Adhil Shetty, chief executive and co-founder of BankBazaar, said: “Amazon is an innovative company that perceives consumer needs and innovates on their behalf. As the digital economy in India develops, Amazon will be an important investor in the robust and rapid growth of BankBazaar.”