Paisabazaar Raises $31.58 Million for Digital Lending Marketplace in India

Paisabazaar, an India-based digital lending marketplace, raised $31.58 million as reported in PwC's January 2018 fintech insights. The platform connects consumers with lending products from multiple banks and financial institutions through internet and mobile technology. Paisabazaar targets segments traditionally underserved by conventional banking channels, aggregating credit options and simplifying comparison and application processes.

The marketplace model positions Paisabazaar as an embedded finance intermediary, distributing bank lending products through its digital interface. The funding supports platform expansion and technology development to capture India's rapidly growing digital lending market. By enabling banks to reach new customer segments through a third-party platform, Paisabazaar's model aligns with broader Banking-as-a-Service trends in distribution and access.