New Delhi, April 23 -- Fintech firm BankBazaar has joined hands with Muthoot FinCorp to start offering gold loans. As part of the collaboration, Muthoot FinCorp has invested Rs.15 crore in BankBazaar's ongoing Series D2 round as equity investor.

As part of D2 round of the fundraise, BankBazaar - which is specialised in co-branded credit cards and credit score services -- has raised Rs.55 crore putting the company's valuation at Rs.1,700 crore. Of this, Rs.15 crore investment has been made by Muthoot FinCorp which gets about 1 per cent stake in the fintech firm.

The remainder of Rs.40 crore has been made by the current investors.

"Gold loans, being counter-cyclical to unsecured credit, will diversify our portfolio and strengthen our off...