<article>Deal4loans, a financial products marketplace backed by Franklin Templeton, on Wednesday said three top executives representing its investors have joined its board.</article>

Deal4loans, a financial products marketplace backed by Franklin Templeton, on Wednesday said three top executives representing its investors have joined its board.
The executives are Vivek Kudva, managing director of Franklin Templeton Investments in Europe, Middle East, Africa and India; Alok Sethi, chairman of Franklin Templeton Services; and Samir Sood, representing WhatsApp business head Neeraj Arora, who invested in the company in April. In July, Franklin Templeton had invested $15 million in Mywish Marketplaces Pvt. Ltd which operates Deal4loans.
“After much convincing, we are happy that they decided to join the board,” said Puru Vashishtha, co-founder, Deal4loans in an interview.
“With the experience of leading Franklin Templeton, Vivek and Alok understand financial businesses. They would mentor us on how to grow and expand globally&#8230; Sameer understands cutting edge technology—through him and Neeraj, we will fine-tune and scale our technology, get access to his network which will help build our tech team” explained Vashishtha.
Founded in 2009 by Vashishtha and Rishi Mehra, Deal4loans aggregates loan products from various financial institutions. The company has partnered with over 40 banks offering personal loans, education loans and home loans among other financial products.
The company claims to have built technology to perform targeted marketing in order to increase its conversions and maintain a low customer acquisition cost, to stay profitable since inception. It has also built algorithms that match loan products of various banks against a given consumer profile.
About 70% of the expenditure of Deal4loans, which has a team of 128, is on technology.
Since 2009, Deal4loans has disbursed over Rs14,000 crore in loans, said Vashishtha. Its most popular loan products are personal and home loans. A personal loan amount on an average is Rs3 lakh at an interest of 12.5-18% for three years, while a home loan is an average of Rs28 lakh for 10 years at 9.75-11%. Deal4loans earns a commission of 0.67% to 3% of the disbursed amount.
Deal4loans competes with companies such as Gurgaon-based PolicyBazaar (ETechAces Marketing and Consulting Pvt. Ltd), Chennai-based BankBazaar (A &amp; A Dukaan Financial Services Pvt. Ltd.), among others in this segment. These have also expanded to offer a range of financial products including loan, insurance and mutual funds. In September, BankBazaar announced its additional investment plans for expanding into Singapore.
<h4 style="text-align: justify;">This article was first published on <a href="http://www.livemint.com/Companies/El9pJ0EXxAAchSg091FBaJ/Three-top-executives-representing-investors-join-Deal4loans.html">Livemint.com</a></h4>

Deal4loans, a financial products marketplace backed by Franklin Templeton,  said three top executives representing its investors have joined its board.

India: Three investor representatives join Deal4loans board

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India: Three investor representatives join Deal4loans board

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