• FOUNDING YEAR: 2015
    LOCATION:
    India
    REGION:
    Karnataka
    Last Update:
    9 Sep, 2019
    Global presence:
    India

Description

FOCUS

PRODUCTS & SERVICES:
Rupeek offers a mobile app that allows both individuals and MSME entrepreneurs to apply for gold loans. It has tied with the Federal bank to offer online gold loans in India. The mobile app enables users to apply and receive loans against their gold within 30 minutes. It also offers loan transfer solutions where the user can send the receipts/pledge cards of their existing gold loans to a Rupeek representative, pay only the outstanding interest, and mark to market as per changes in the gold price.
REVENUE MODEL:
Viewable by subscribers only
MAIN CLIENTS:
Retail customers
EXISTING PARTNERSHIPS:
Nationalized Banks and Financial Institutions
COMMENT
Provides cheaper credit for borrowers and more value for lenders through credit evaluation tools and reduced operational costs.

PEOPLE

FOUNDERS:
Ashwin Soni, Sumit Maniyar, Amar Prabhu
NUMBER OF EMPLOYEES:
51-200
INVESTORS:
Accel Partners, Sequoia Capital, TracxnLabs
KEY EMPLOYEES:
Sumit Maniyar (CEO), Amar Prabhu (CTO)

TRACTION

Insufficient information for accurate analysis

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$8.8 Millions
DATE OF LAST FUNDING:
Feb 2018
SEED & PRIOR FUNDING:
$2 Millions
SEED CLOSED ON:
Jan 2017
FUNDING SERIES:
SERIES A
$6.8 Millions Closed: Feb 2018
LISTED:
NO

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