Paisabazaar

Paisabazaar is an Indian digital loan and credit card platform. It is a part of PB Fintech (formerly EtechAces Marketing and Consulting). In 2020, Paisabazaar was India's largest digital consumer credit marketplace, with a 51.4% market share in terms of disbursals.

History
Paisabazaar, co-founded by Yashish Dahiya, Alok Bansal, and Naveen Kukreja in Gurugram, Haryana in 2014,  is owned by PB Fintech, the parent company of the insurance technology platform Policybazaar. In July 2018, the platform achieved an annualized loan disbursal rate of $1 billion. By October 2022, Paisabazaar had recorded over 30 million visitors. In March 2022, Paisabazaar became a member of the FACE Consortium, a collaborative platform of online consumer credit providers such as Orange Retail Finance and Phocket.

Funding
In January 2018, Paisabazaar's parent company PB Fintech (formerly EtechAces Marketing and Consulting) committed to funding $31.58 Mn (INR 200 Cr) as part of the $78.9 Mn (INR 500 Cr) pre-IPO funds the parent firm received in October 2017 from True North and IDG Venture Partners.

On November 15, 2021, Paisabazaar's parent company PB Fintech was listed on Indian Stock Exchanges.

Controversy and lay-offs
In early March 2022, customers of Paisabazaar received an email claiming that their account for mutual fund services would be terminated on 25th March. Nevertheless, on 16th March, Paisabazaar released a statement asserting that reports of the platform shutting down its mutual fund operations were unfounded.

In 2020, Paisabazaar laid off more than 1,500 employees to cut down costs owing to the impact of COVID-19.