BankBazaar.com, which aims to become the most lucrative co-branded credit card network, anticipates turning profitable this fiscal year and intends to submit an IPO application by the end of the next year.
The business, which began as a platform for comparing loans in 2008, is now heavily involved in the co-branded credit card market and has issued two such cards in collaboration with Yes Bank and RBL Bank.
The company’s top line increased by 85% year over year in the second quarter of FY23, reaching Rs170 crore in sales. In Q2, the company’s credit card revenues increased by 115%.
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