FinTech startup Rubique to raise ₹128 crore in Series B round

Must Read

President Ram Nath Kovind appoints new governor for Kerala, Telangana, Himachal Pradesh and Maharashtra

President Ram Nath Kovind appointed new governors for Maharashtra, Kerala, Telangana, Rajasthan, and Himachal Pradesh on Sunday. https://twitter.com/ANI/status/1168037199767457792 Former Union Minister Kalraj...

NRC list for Assam released; Fear looms as 19 lakh people face exclusion

NRC (National Register of Citizens) for Assam has been published at 10 am today. The final list excludes over...

Lateral Entry Era Begins as Union govt. appoints 9 professionals to Joint Secretary posts

The government has appointed its first batch of private professionals to the post of Joint Secretary in various ministries....

Rubique, a finance technology company that aims to empower individuals and SMEs by providing easy access to finance and financial products, is reportedly in talks with investors to raise a new funding round.

The company is in talks with China and UAE based venture capital firms, along with its existing investors, to raise about ₹128 crore ($20 million) in its Series B funding round.

A couple of months ago, the startup had raised a bridge funding round from existing investor Kalaari Capital and Udayan Goyal, worth around ₹19 crore ($3 million).

Manavjeet Singh, CEO and MD of Rubique said,

We are a few weeks away from completing our Series B funding. We are in an advanced stage of discussions with two venture capital firms from China and the UAE for the next round which will accelerate our expansion plans.

The company is planning for the expansion of its operations with an aim to grow its presence to 100 cities by December this year. It has recently received regulatory approvals for insurance products and services, and will soon launch insurance policies.

The startup, which currently acts as a credit facilitator for SMEs and individuals, is also getting ready to venture into mutual funds market by November.

Rubique was founded by Manavjeet Singh along with his partner Sandeep Nambiar in October 2014, with an aim to bring every borrower and lender on a common platform. It currently operates in Mumbai, Delhi, Kolkata, Bengaluru, Hyderabad, Pune and Jaipur.

The company introduced a tech-led lending solution with matchmaking algorithm and direct integration with financial institutions’ lending underwriting systems.

It claims to have facilitated disbursement of loans worth ₹1,900 crore and enabled more than 47,000 credit card set-ups with a monthly run rate of ₹150 crore and close to 5,000 credit card processing.

- Advertisement -

Latest News

Drashti Dhami and Sanaya Irani are ultimate buddies, Check out photos

Drashti Dhami and Sanaya Irani are one of the closet buddies in film industry. Both have worked and stayed...

Japan PM Shinzo Abe to meet Iran’s President Hassan Rouhani

Following the rising tensions in the Middle-East after an attack on the oil facilities in Saudi Arabia. Japanese Prime Minister Shinzo Abe is set...

Spain rejects US extradition request for Venezuela’s top spy Hugo Carvajal

Spain's top court has denied an extradition request by the United States and has ordered the release of Venezuela's former spy chief, Hugo Carvajal. Carvajal...

Borderlands 3 cloud-save hotfix coming soon

Borderlands 3 made its first appearance at E3 2019 during Microsoft’s press conference on June 9. After months of anticipation, Borderlands 3 finally released on PC, PS4 and Xbox One on September 13th. But it seems like...

Radhika Apte makes a Classy appearance at IIFA Rocks 2019

Radhika Apte is an Indian film actress, who is popularly known for her intellectual roles and passionate acting in the movies. She has worked...
- Advertisement -

More Articles Like This