Fintech firm BankBazaar.com plans to go public in next 12-18 months

Fintech firm BankBazaar.com on Tuesday said it plans to go public in the next 12-18 months.

The company had a net revenue of Rs 160 crore in FY23.

The Initial Public Offering (IPO) plans are in progress with an aim to list in 12-18 months, co-branded credit card issuer BankBazaar.com said in a statement.

Prior to the IPO, BankBazaar is planning to raise a round of capital and has appointed ICICI Securities to advice it on the same.

The company grew its net revenue for FY23 by 60 per cent over FY22 on the back of a 60 per cent growth in its credit card issuances.

The growth was driven by its completely paperless and contactless offering of digital-first, co-brand credit cards in partnership with leading banks that enable consumers to track and improve their credit score, earn rich digital rewards, and access hundreds of no-cost EMIs every month, BankBazaar.com said.

Adhil Shetty, Co-Founder and CEO of BankBazaar.com, said riding on a 60 per cent growth momentum in FY23 while narro