Gold loan provider Ruptok raises Rs.14-Cr from Eclear Leasing

Delhi-based gold loan provider Ruptok Fintech has raised INR 14 crore in debt funding from Eclear Leasing and Finance. The company will further venture into a co-lending agreement with Eclear. Ruptok, via the agreement, will offer an additional lending amount to the borrowers on the same pledged gold assets enabling users to get a higher value for the same asset within RBI guidelines.The company recently entered Mumbai, Pune, Nashik, Hyderabad, Jaipur, Vadodara and Surat. It now aims to increase its presence to 27 cities by FY22. Founded in July 2020, Ruptok Fintech provides disbursal of loans against gold jewellery. The startup last raised INR 10 crore from Canada-based investment firm Wurk. Ruptok later acquired Vinrak Technologies, which owns the brand GoldUno, in an all-stock deal and expanded its footprint in Jaipur and Mumbai.