Angel Investments
Gold-tech startup Ruptok raises Rs.16-Cr from Manuvel Malabar Jewellers, HNIs
New Delhi-based Ruptok, a fintech platform for gold loans, has raised INR 16 crore in a pre-Series A funding round from existing and new investors, including Manuvel Malabar Jewellers and industry veterans and HNIs Nivedan Sahay and Neeraj Aggarwala. Ruptek will use the fresh funds to diversify its loan book and integrate technology into its financial products and services. In the past year, the company claims to have disbursed over INR 60 crore to 1,600+ customers. Currently, Ruptok is banking correspondent to CSB Bank and Fincare Small Finance Bank. It also expanded its operations to eight cities - Delhi-NCR, Mumbai, Jaipur, Vadodara, Surat, Pune, Nashik, and Hyderabad. It intends to be present in 27 cities by FY22. In August 2021, Ruptok raised capital from Eclear Leasing and Finance, a New Delhi-based NBFC. The company has also received angel investment from Wurk, a Canada-based investment firm.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
