NetAmbit, a venture capital-backed financial services distribution company, is going to hire 3,000 people this financial year for its direct marketing operations as it plans to nearly double sales of financial products such as mutual funds and insurance to Rs 800 crore, said Girish Batra, chairman and managing director, NetAmbit.

Founded in 2000, NetAmbit began operations at the height of the Dotcom bubble, but soon after modified its business to enter the ‘direct marketing’ model of operations. Today, the company, which has received funding from Bessemer Venture Partners and Helion Ventures Partners, plans to add products like loans, mortgages and corporate FDs this year to be offered to the customers.

“We have around 4,000 people on our rolls now. We will hire another 3,000 by the end of this fiscal. Essentially these people will be hired to make calls to end-customer to whom these financial products will be sold. Each of my telesales employees generate on average sales worth Rs 200,000 per month. That figure drops to an average of just Rs 50,000-Rs 70,000 per month for many of our competitors. We have kept a tight leash on costs,” said Batra.

The company will hire employees in all key locations such as Kolkata (300), Noida (1,000), New Delhi (400), Mumbai (1,000), Bangalore (300-400) and Chennai (150). While new channels like franchisees, internet and mobile will open up new revenue streams for the company.

kumarsroy@mydigitalfc.com