Mywish Marketplaces Raises $15M For Business Expansion

Mywish Marketplaces, fintech startups has raised $15 million to push its financing business into new areas.

The capital was proved by Franklin Templeton, the U.S. banking giant with more than $700 billion in assets under management. “We were chased by a lot of venture capitalists and investors globally,” Puru Vashishtha, who is board director at Mywish Marketplaces said. “Because we were profitable, we did not need to raise a lot and didn’t want to dilute too much too soon — that’s one of the reasons we chose Franklin Templeton. Also, Franklin Templeton has built a very big emerging market business, we want to leverage the experience and leadership of their team.”
TechCrunch reported the round values of Mywish Marketplaces at $100 million.

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“We are primarily trying to cater to customers who are in the market for banking products, we are the intermediary between them and banks,” Vashishtha said.

“We ensure they get the best possible advice, make responsible decisions, are given information and transparency,” the former Wall Street hedge fund investor, who joined Mywish Marketplaces in April, added. “We try to understand our customer and match make perfectly with the various products available at that point of time, and which banks, via algorithms.”

Vashishtha argued that rather than just a pipeline for new customers, Deal4Loans streamlines the process to ensure that the right customer focuses on the right banking product, thus minimizing risk that banks would otherwise incur when assessing potential new customers.

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“We are neutral so able to get a lot more information on customers and what they are looking for (than a bank would and we) sometimes turn customers away, which lets us target a very high-end,” he explained, although, in the right conditions, he added that a loan or credit can be approved in two minutes.

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