Fintech player BankBazaar just added another ₹55 crore (around $6.44 million) to its war chest, thanks to a fresh round of funding led by Muthoot Fincorp and existing investor Walden International. This is part of the company’s ongoing Series D round, and it brings their total equity funding to a solid $116 million so far.

This latest investment values the Chennai-based company at around ₹1,700 crore (roughly $200 million). Muthoot Fincorp alone pitched in ₹15 crore, signaling more than just financial support—it’s part of a deeper partnership.

Back in April 2024, BankBazaar had already raised ₹80 crore ($9.6 million) through a private placement. According to co-founder Adhil Shetty, this new round is simply a continuation of the earlier one from December 2023, and the door is still open for more investors to come on board.

BankBazaar, best known for its co-branded credit cards with Yes Bank, has been on a growth streak. In FY24, it posted a 63% spike in its credit card business and expects to keep its revenue growing at a 46% annual clip through FY25. The company is also aiming to hit EBITDA profitability for the full year FY25—a big milestone for any growing fintech firm.

But that’s not all. With Muthoot Fincorp coming in as both investor and strategic partner, BankBazaar is now stepping into the gold loan space—a significant move that could open up a whole new customer base.

“We’re building on strong momentum,” Shetty said, “and this funding helps us take the next big step.”

All signs suggest BankBazaar is gearing up for a bigger, broader financial play—and investors seem more than happy to come along for the ride.