Sep 07, 2017
Essel Finance - Foraying into digital distribution through acquisition of Bimadirect.com
Essel Finance Management LLP (EFM), the financial services arm of the Essel Group and one of India's fastest growing financial services conglomerate, announced that it has acquired the controlling stake of Bimadirect.com, an IRDA licensed digital insurance broking portal. Founded in 2011, Bimadirect is a technology enabled business providing insurance. The company operates a pan India insurance aggregation website Bimadirect.com.
Essel Finance currently offers wealth management and investment advisory to corporate and retail customers through its branch network across the country.
It has striven tirelessly since its existence to bring the latest innovations and deliver the best value and services to its consumers. The guiding principle of faith in innovative and organized growth is the driving force behind each product offering. This also ensures commitment towards enhancing operational excellence.
Essel Finance Management LLP (EFM) is promoted by the Essel Group, the USD 10 billion conglomerate that has emerged as one of India's most prominent businesses.
Currently EFM is offering a range of financial services and products such as SME Business Loans through its Non-Banking Financial Company (NBFC), Housing Finance, Forex, Private Equity, Investment Banking, Distribution and Mutual Fund.
Mr Amitabh Chaturvedi, Managing Director of Essel Finance said, "With the acquisition of Bimadirect.com, we are foraying into digital distribution for mass customer base. The acquisition is in line with our vision to become a one-stop shop for wealth management services offering advise through our branch network and digital channel. Mr. Brijesh Parnami, ED & CEO - Wealth Services will be heading this business."