NetAmbit, a Financial Services Distribution Company is acquiring RupeeTalk, a personal finance portal. NetAmbit will use RupeeTalk to being an “Internet enabled model for fulfillment of leads”, the company has said in a press release. NetAmbit, a Bessemer Venture Partners (BVP) and Helion Venture Partners backed company, distributes distributes financial products to its customers through Direct Marketing Model, Branch Model, Digital – Internet & Mobile. Rupeetalk allows comparisons on financial products online, has personal finance content, providing information on insurance, loans, credit cards, mutual funds, fixed deposits etc, so there’s a fit for NetAmbit to expand its offering.
NetAmbit claims to have grown from 13 to 140 locations between FY06 & FY09, with business sourced by the company, by 12 times in three years. RupeeTalk claims that it gets around 150,000 visitors a month, 1 million pageviews, and has a customer base of 0.8 million. There’s no mention of how much money its making, but it is targeting revenues of Rs. 50 crore in the next 3 years, and a rather outrageously ambitious target of 2 million visitors and 30 million pageviews in the next two years.
Three Recent Exits By SeedFund
What’s also worth noting is that the RupeeTalk sale is the third exit in recent times by SeedFund. Last month, Axel Springer and the India Today group acquired Carwale, providing SeedFund and Sierra Ventures an exit. Within a couple of weeks, Lifeblob was acquired by Printo, both of them SeedFund funded companies, and now the RupeeTalk deal. What’s the rush…time to pay back LP’s?