The Hindu Business Line
Fintech firm Rupeek raises $30 m
Fintech company Rupeek has raised $30 million (about ₹213.9 crore). The funding is led by Bertelsmann India Investments. The round also saw participation from existing investors Accel and Sequoia India, Rupeek said in a statement. “This funding, which will be completed in two tranches, will be used towards product development and market expansion,” it added. Bengaluru-based Rupeek is disbursing gold loans at an annual run rate of more than $150 million and is growing at 20 per cent month-on-month, it said. The organised gold loan disbursal in India is estimated at about $90 billion per annum.