Rupeek Raises $34 Million Led by Lightbox
Summary
Despite the headwinds faced by the gold loan industry due to the decline in gold prices through 2021, Rupeek has demonstrated resilience with strong growth and continues to disrupt the category with its unique tech-led doorstep model and seamless integration with multiple lending partners, thereby driving efficiency in lowering its operational expenses. Our aim is to set the foundation for tech-led gold monetisation in the country through unique, industry-first innovations and further, unlock growth and credit for a billion Indians,” said Sumit Maniyar, founder and CEO of Rupeek. This latest round of funding will be used to significantly scale and build India’s largest digital asset backed fintech platform,” said Prashant Mehta, partner at Lightbox. Built on ‘Technology, Trust and Transparency’ first ethos, its vision is to be a new age, innovative brand solving the credit pain points of Indians. Rupeek aims to democratise access to credit for every Indian by enabling hassle-free doorstep gold loans at the lowest interest rates, its first product with many more to follow.
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