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2014-10-29

BCCL's digital arm TIL acquires Bangalore-based Moneysights

RupeeStreet will be operated as a separate entity under the leadership of its co-founder Mukesh Kalra

Times Internet Ltd, the digital arm of BCCL (parent of The Times of India), has acquired Bangalore-based RupeeStreet Financial Services Pvt Ltd, the company behind the online personal finance platform Moneysights which was shut down in September 2012, as per a VCCircle report.

 

Post the acquisition, RupeeStreet will be operated as a separate entity under the leadership of its co-founder Mukesh Kalra, and Times Internet will continue to develop the platform. However, it is not immediately clear if Times Internet is planning to relaunch the site. We have contacted the company for more details, and will update the story as and when we get its responses, the report states further.

 

RupeeStreet, a consumer internet firm in the financial services domain, was founded in April 2009 by Kalra along with Santosh Navlani, who had previously worked at InMobi. The site was launched in May 2011 with a B2B subscription model, and later transitioned into a consumer-focused transaction-based model.

 

RupeeStreet had raised an undisclosed amount in funding from Prasad Duvvuri, head of service delivery (India media and entertainment) at IBM, and InMobi’s Naveen Tewari in early 2010. This was followed by a fresh round of $270,000 led by Blume Ventures, with participation from Tewari in February last year.

 

The site will compete with various online lead aggregators and financial products comparison sites such as Sequoia Capital- and JAFCO Asia-backed ApnaPaisa.com and PolicyBazaar.com. Other sites operating in the domain include BankBazaar.com, MyInsuranceClub.com, InsuranceMall.in, ApnaInsurance.com and Peacock Financial Advisors’ Getmeinsure.com.

 

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