BankBazaar eyes to double revenue from overseas operations

: Online financial services marketplace BankBazaar has chalked out plans to tap the overseas market to increase revenue from international operations, co-founder and CEO of the company Adhil Shetty said today.

The company proposes to invest Rs 30 crores in Singapore, Malaysia, the Philippines where it was currently operating, Shetty told reporters.

"We plan to invest Rs 30 crore to expand international operations during the current financial year. We will also be entering the fourth country by this financial year-end", he said.

"We want our revenue from international operations to double to 20 per cent from 10 per cent", the CEO said.

Stating that the company would be funding through internal accruals for its plan, he said the investments would be required for hiring people, setting up infrastructure and for making "digital acquisitions".

To a query, Shetty said the company clocked 91 per cent growth in its operating revenue in FY 2017-18 to Rs 125 crore.

Shetty and top executives of the company were here to mark its 10th anniversary celebration.

A study on aspiration of the millennials across the country was undertaken by BankBazaar along with consultancy firm KANTAR IMRB, Shetty said, adding that the sample size was 1,550 people in the age group of 25-35.

Sharing some of the findings, he said South India topped the aspiration index at 88.5 per cent clocking higher than the national average.

North, East and West India came up at 87.7 per cent, 86.6 per cent, 86.0 respectively on the index, he added.

The index was to understand the millennials from a personal finance perspective. It analyses their goals in respect to wealth, fame, image, relationships, personal growth and health, he further said.