It gives us immense pleasure to announce that we have raised external PE investment of US $15 million (INR 100 crore) for a minority stake from Dutch based IFSD BV, advised by Vaalon Capital.
With first-of-its-kind PE investment for us, we look forward to harness Analytics and Technology for enhancing our “phy-gital” distribution capabilities.
Speaking to the media about external investment, our Founder and Managing Director, Mr Raj Khosla said, “This investment is a fantastic endorsement from an international partner and comes at an opportune time, as we are eager to capture an even larger share of the fast-growing and huge Indian consumer market. Partnering with an experienced investor will help drive our “phygital” (physical & digital presence) delivery capabilities, connecting with our customers and financial partners on their terms.”
“We will use the funding to strengthen our data analytics team, migrate our data to Amazon Web Services, develop our website and strengthen our digital marketing team. It would also be used to further our pan-India reach and deepen existing financial partner relationships with banks, NBFCs and insurance companies,” Mr Raj Khosla added.
Mr. Adam Teeger of Vaalon Capital said: We have been very impressed with the quality of the MMM team, their long–standing relationships with NBFCs, Banks and Insurers and their robust processes and platform. They have a proven record of service delivery and a long track record of success. We are particularly excited by the MMM team’s initiatives focused on leveraging data analytics, technology and digital marketing. We look forward to partnering with Mr. Raj Khosla & Mr. Rahul Soota and the entire MMM team to help drive the company’s next phase of growth.
MyMoneyMantra helps customers get loan deals and credit card offers through physical as well as online channels across India. We have partnerships with more than 90 financial institutions including ICICI Bank, HDFC Bank, Axis Bank, Citibank, PNB Housing Finance Ltd and Tata Capital.
Having served more than 4 million customers, we have generated over ₹45,000 Cr of business and received 100+ Bank Awards till date. In FY 2018, we originated approximately US $1 billion of credit products.
IFSD BV is a Dutch investment company based in Rotterdam and advised by Vaalon Capital. Vaalon Capital is an independent private equity and advisory firm founded in 2016 and focused on making long-term investments in companies with significant growth potential. Building on the success and reputation of strong team and strategic advisors, Vaalon Capital enjoys significant support from its investor base, primarily made up of several large international family offices.