Total amount raised
$209.8 Millions
Latest funding date
Location
Rupeek has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform specializes in gold loans, offering a range of products designed to make borrowing easy and secure.
Keep reading to explore the intricacies of Rupeek's fundraising journey and the investors backing this innovative platform.
What Is Rupeek?
Rupeek, founded in 2015 by Sumit Maniyar, is a financial services company based in Bangalore, Karnataka, India. The company specializes in gold loans, offering a range of products designed to make borrowing easy and secure.
Rupeek's services include online gold loans, doorstep gold loans, and various repayment options, ensuring flexibility and convenience for borrowers. The platform aims to bring financial inclusion to the masses with transparent and people-friendly products.
With a workforce of 1001-5000 employees, Rupeek continues to innovate in the lending space, leveraging technology to provide efficient and secure financial solutions.
How Much Funding Has Rupeek Raised?
- Seed Round
- Amount Raised: $2M
- Date: January 2017
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop the initial product offering.
- Series A
- Amount Raised: $6.8M
- Date: February 2018
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and enhance the technology platform.
- Series B
- Amount Raised: $30M
- Date: August 2019
- Lead Investors: Bertelsmann India Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market penetration.
- Series C
- Amount Raised: $60M
- Date: February 2020
- Lead Investors: Bertelsmann India Investments, Notable Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the product line and enter new markets.
- Series E
- Amount Raised: $33M
- Date: March 2021
- Lead Investors: Notable Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and improve customer experience.
- Venture Round
- Amount Raised: $7M
- Date: March 2021
- Lead Investors: VEF
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and operational needs.
- Venture Round
- Amount Raised: $34M
- Date: January 2022
- Lead Investors: Lightbox
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the customer base and enhance service offerings.
- Series E
- Amount Raised: Not publicly disclosed
- Date: July 2022
- Lead Investors: Venture Catalysts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To drive innovation and product development.
- Venture Round
- Amount Raised: $16M
- Date: September 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen market position and expand services.
- Venture Round
- Amount Raised: ₹1.8B
- Date: May 2024
- Lead Investors: 360 ONE Asset
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To boost the gold loan platform and expand market reach.
Total amount raised: $188.8M
Current valuation: Not publicly disclosed
Key Investors
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that invests in early and growth-stage companies. It has a strong presence in the technology and healthcare sectors.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Apple, Google, WhatsApp
- Accel
- Details: Accel is a global venture capital firm that partners with exceptional founders to build world-class companies. It has a significant focus on early-stage investments.
- Investment Focus Areas: Technology, internet, software
- Notable Investments: Facebook, Dropbox, Slack
- Bertelsmann India Investments
- Details: Bertelsmann India Investments is the strategic investment arm of Bertelsmann in India. It focuses on early-stage and growth-stage investments in the digital, education, and media sectors.
- Investment Focus Areas: Digital, education, media
- Notable Investments: Pepperfry, Saavn, Lendingkart
- Notable Capital
- Details: Notable Capital is a venture capital firm that invests in innovative startups across various sectors. It aims to support companies with high growth potential.
- Investment Focus Areas: Technology, healthcare, fintech
- Notable Investments: Not publicly disclosed
- 360 ONE Asset
- Details: 360 ONE Asset, formerly known as IIFL Asset Management, is an asset management company offering a range of investment products and services. It focuses on providing tailored investment solutions.
- Investment Focus Areas: Asset management, investment products, financial services
- Notable Investments: Not publicly disclosed
What's Next for Rupeek?
Rupeek stands at the cusp of significant growth opportunities, driven by the increasing demand for gold loans in India. The company is well-positioned to capitalize on this trend, potentially expanding its market share and introducing new financial products to meet diverse customer needs.
Future fundraising efforts will likely focus on scaling operations and enhancing technological capabilities. With a strong track record of attracting top-tier investors, Rupeek is poised to secure additional funding to support its ambitious growth plans.
However, challenges such as regulatory changes and market competition could pose hurdles. Navigating these obstacles will require strategic planning and continuous innovation to maintain a competitive edge.
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