Sequoia Funded Apnaloan.com Looking To Raise $15 Million: Report
By Nikhil Pahwa - Tue 04 Dec 2007 02:13 AM PST
Apnaloan.com (ALC India), a Sequoia Capital funded personal finance site is in talks with Chrys Capital, Intel (NSDQ: INTC) Capital and Sequoia Capital to raise up to $15 million, reports Economic times. Apnaloan was founded in 2000 by Harsh Vardhan Roongta, an ex-ICICI Bank employee, and it’s believed that the Roongta and Sequoia Capital had bought the company from earlier investors - Rediff, (NSDQ: REDF) ING Vysya Bank, SIDBI Venture, Jumpstartup Venture Fund, FMO and Edelweiss Capital for $2.2 Million. Personal finance sites get revenue from generating leads for financial companies...in fact, financial companies are among the biggest advertisers online. Competing with Apnaloan.com are loanwala.com from the Bharatmatrimony group and, strangely enough, loanraja.com from DFJ funded online ad network Komli.
Posted in: Venture Capital
