Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
CEO ReviewCompany Review

The Silicon Review Asia

$30 Million Raised by Rupeek from Bertelsmann, Sequoia Capital and Accel

$30 Million Raised by Rupeek from Bertelsmann, Sequoia Capital and Accel

Rupeek, the Bangalore based company has raised around $30 million in funding. This round was led by an investment firm called Bertelsmann India. Rupeek operates in the online marketplace for gold loans and with existing investors like Accel and Sequoia Capital India, the company is said to go the next level since these two firms have already taken part in the funding round.

On Monday the firm did confirm that it will be using these new funds for two purposes, which are market expansion and product development. Sumit Maniyar who is the CEO and the founder of Rupeek did say that the firm is aiming to bring transparency in the lending space. It will also protect retail investors' interest no matter what happens. This will also lead to proprietary tech hardware standardization, more scalability option, fairness and increase gold purity. This new investment will also allow the firm to step into other markets and expand at a rapid pace.

The firm is growth 20 percent month to month and $150 million is said to be its annual run rate. With a gold loan disbursal that reached up to $90 billion last year makes the firm a strong one in its vertical. This means we might see some amazing things happening.


Pine Labs Reaffirms its Commitment to Indian Payments Space with Qfix Acquisition

HDFC Bank is Qfix's main distribution partner Pine Labs has announced that it has acquired Qfix, a Mumbai-based online payments startup. This acquisi...

Salesforce Expands into Thailand, Opens Office in Bangkok

Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...

GMLL is expected to soon add two more stores to its retail arm ‘Price Mantra’

Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...

Tariff plans will cost higher from the next financial year as telecom companies are gearing up to increase rates

The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...