The Hindu Business Line

Fintech firm Ru­peek raises $30 m

- PTI Business · India News · Investing · Belarus · Bertelsmann · India · Belgium · Bangalore · Venture Capital · Accel Partners

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.

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