Apnaloan.com announces Sequoia Capital Investment
Feb 1, 2007
Apnaloan.com Services Pvt. Ltd. (www.apnapaisa.com/loan), 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 Sequoia Capital
As the "Entrepreneurs Behind the Entrepreneurs", since 1972, Sequoia Capital has provided startup venture capital for very smart people who want to turn ideas into companies. Sequoia Capital's Partners have worked with innovators such as Sandy Lerner and Len Bozack of Cisco Systems, Jerry Yang and David Filo of Yahoo!, Gaurav Garg of Redback Networks, Larry Page and Sergey Brin of Google, Dan Warmenhoven of Network Appliance, T.J. Rodgers of Cypress Semiconductor, Lou Tomasetta of Vitesse Semiconductor, Steve Jobs of Apple Computer and Larry Ellison of Oracle. The companies organized by Sequoia Capital now account for about 10% of the value of NASDAQ. To learn more about Sequoia Capital visit http://www.sequoiacap.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
Media Contact for Sequoia Capital India
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Media Contact for Apnaloan.com
Tel: +91 22 24901327/28/30
Fax: +91 22 24901325