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Latest Ruptok News
Jan 25, 2022
Ruptok Fintech has acquired a significant market share in the goldtech industry within a short span. Since its inception in July 2020, the startup has facilitated over 2500 loans. Ruptok Fintech offers instant doorstep gold loans in ten cities-- Delhi NCR, Mumbai, Jaipur, Vadodara, Surat, Pune, Nashik, Hyderabad, and Bangalore and Vapi recently. The startup has registered a 20% month-on-month growth and is disbursing loans currently at the annual rate of ₹250 crores, it said. Ltd., said, “The gold tech industry is rapidly penetrating, which has led to significant demand in loans against gold. We, at Ruptok, have witnessed unprecedented growth in the past year. Not only have we raised capital from various investors to expand our business operations to new regions, but we have also built significant partnerships. Two of them is with Xiaomi and TVS Credit for catering gold loans to their customers. This strategic approach has expedited the exponential growth of the brand. The doorstep delivery of instant loans with digital paperwork and utmost security has won our customers’ faith in our Ruptok. We have aggressive plans to venture into new cities and strike new strategic partnerships." In 2021, Ruptok raised capital in multiple rounds, including angel funding from Wurk, a Canada based Investment Firm, ₹16 Crore in pre-series A funding round from existing and new investors, including Manuvel Malabar Jewellers, industry veterans, and HNIs, Nivedan Sahay and Neeraj Aggarwala, and a debt funding worth ₹15 crore from Eclear Leasing and Finance. Ruptok Fintech has strategic alliance with Eclear Leasing & Finance Pvt. Ltd and MAG Finserve Company Limited for co-lending business. Through this partnership, the company intends to offer a seamless experience and a higher loan to value for gold loan borrowers at competitive interest rates.
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Ruptok Frequently Asked Questions (FAQ)
When was Ruptok founded?
Ruptok was founded in 2020.
Where is Ruptok's headquarters?
Ruptok's headquarters is located at G-56, opposite Evergreen Sweet House, New Delhi.
What is Ruptok's latest funding round?
Ruptok's latest funding round is Seed.
How much did Ruptok raise?
Ruptok raised a total of $5.39M.
Who are the investors of Ruptok?
Investors of Ruptok include Manuvel Malabar Jewellers, Neeraj Aggarwal, Nivedan Sahay, Eclear Leasing and Finance and Wurk.
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