Ruptok Fintech Pvt. Ltd. disbursed INR 100 crore worth loan against gold

Ruptok Fintech Pvt. Ltd., a fintech platform, has strengthened its market position in the GoldTech industry by disbursing over INR100 crore loan against gold in the last 18 months. The fintech startup is making strides to bolster its business growth and intends to achieve INR 1000 crores annual disbursement run rate in the next financial year. The company also aims to intensify its presence in India and expand its work force.

Ruptok Fintech Pvt. Ltd. has acquired a significant market share in the GoldTech industry within a short span. Since its inception in July 2020, the startup has facilitated over 2500 loans. Ruptok Fintech offers instant doorstep gold loans in ten cities, including Delhi NCR, Mumbai, Jaipur, Vadodara, Surat, Pune, Nashik, Hyderabad, and recently launched operations in two new cities - Bangalore and Vapi. The startup has registered a phenomenal 20% month-on-month growth and disbursing loans currently at the annual rate of 250 crores.

Sharing the information, Ankur Gupta, Founder and CEO, Ruptok Fintech Pvt. Ltd., said, “The gold tech industry is rapidly penetrating, which has led to significant demand in loans against gold. We, at Ruptok, have witnessed unprecedented growth in the past year. Not only have we raised capital from various investors to expand our business operations to new regions, but we have also built significant partnerships. Two of them is with Xiaomi and TVS Credit for catering gold loans to their customers. This strategic approach has expedited the exponential growth of the brand. The doorstep delivery of instant loans with digital paperwork and utmost security has won our customers’ faith in our Ruptok. We have aggressive plans to venture into new cities and strike new strategic partnerships.”

In 2021, Ruptok raised capital in multiple rounds, including Angel Funding from Wurk, a Canada based Investment Firm, INR 16 Cr in pre-series A funding round from existing and new investors, including Manuvel Malabar Jewellers, industry veterans, and HNIs, Mr. Nivedan Sahay and Mr. Neeraj Aggarwala, and a debt funding worth INR 15 Cr from Eclear Leasing and Finance.

Ruptok Fintech has strategic alliance with Eclear Leasing & Finance Pvt. Ltd and MAG Finserve Company Limited for co-lending business. Through this partnership, the company intends to offer a seamless experience and a higher loan to value (LTV) for gold loan borrowers at competitive interest rates.

The startup is also backed by ABL Workspaces Private Limited, a premium co-working space. Registering tremendous growth in 2021, Ruptok acquired GoldUno, a Mumbai-based firm, from Vinrak Technologies Private Limited in an all-stock deal and partnered with Xiaomi (need details). Ruptok is geared up with its roadmap for 2022 to emerge as an industry player.