plans to hire 500 people by March


Fintech firm plans to hire over 500 people over the next few months to support business expansion. The company will also roll out wage hikes and promotions across all levels effective January 1, 2021.

BankBazaar, which recently announced that its revenues are back to 70 per cent of the peak pre-COVID-19 revenue, plans to scale up its digital know your customer (KYC) offerings to facilitate contactless access to credit.

Hiring will take place across all BankBazaar locations in Chennai, Bengaluru and Mumbai. The open positions are mostly in the engineering and product teams, apart from customer support. The company currently has about 1,000 employees.

BankBazaar was on path to hit earnings before interest, taxes, depreciation, and amortization (EBITDA) positivity when COVID-19 hit in March 2020.

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The company said despite temporary setbacks due to the pandemic, BankBazaar retained the growth momentum with six months of straight revenue growth.

This was achieved without any additional cost-cutting or reduction in employee strength during the pandemic, it added.

Adhil Shetty, co-founder and CEO of BankBazaar, said the company”s performance in the last seven months underscores the strength of its technology and its ability to help partners in their journey towards an entirely contactless lending process.

Apart from the hiring effort, the company is also rolling out salary increments and promotions across all levels effective January 1, 2021. Salary hikes will be identical to previous years.