MyWish Marketplaces, company which owns the website Deal4loans.com raised $15 million from Franklin Templeton International Services India.
The funds will be used to develop a new platform with Franklin Templeton, including investment product and wealth management products related services. Funds will also be used to expand its business loans category.
It was founded by Rishi Mehra in 2009. Deal4loans provides comparisons of retails loans across categories including personal loan, car loan, home loan, credit cards & property along wih education loans. It claims to have 7 million registered users with 50 lending partners.
The firm has earlier raised an undisclosed amount of funding in April from high profile investors including Neeraj Arora- Whatspp’s Global Business Head, California based Sherpalo Ventures and Puru Vashishtha- former Wall Street hedge fund investor.
Deal4You directly competes with BankBazar, last year it raised $60 million from Amazon, Mousse Partners and Fidelity Growth Partners.
It plans to expand its presence in 350 cities from 200 cities. Deal4Loans has so far provided Rs 10,000 crore worth of loans. It was earlier run by WRS Info India Pvt Ltd.
Puru Vashishtha, board director of Mywish Marketplaces, said,
“Through our technology, we will continue to help our partner banks in the new paradigm of digitization of the banking landscape. We also look forward to working with Franklin Templeton on developing a new technology platform for wealth management and investment product-related services.”