Kalaari Capital-backed online lending marketplace Rubique has raised fresh funding led by Japan’s Recruit Group and Russian venture capital management company Emery Capital.
Blacksoil and existing investor Kalaari Capital also participated in the funding round. Apart from this round, the startup is also in the final stages of closing another tranche’ of funding, to be led by a couple of marquee investors
The startup plans to use the funds to hire more data scientists, enhance technology and reach a monthly revenue of $1.8 Mn (INR 12 Cr) by September.
Commenting on the fundraise, Manav Jeet, CEO, Rubique, said, “The success of the latest funding round is a strong indication of the trust our investors have in our vision, our technology-thinking of financial services as well as in our strong focus on robust unit economics model. We have managed to successfully stand out in the fintech space as an innovator par excellence and one of the genuine success stories of the domain through our unique asset-light business model.”
Founded in 2014 by banking veteran Manav Jeet, Rubique acts as an online financial marketplace and offers end-to-end solutions for a user’s credit needs, including SMBs and individuals.
Leveraging advanced technologies like artificial intelligence and machine learning, the Mumbai-headquartered fintech startup deploys its proprietary algorithm and integrates it with the lending system of banks and other financial institutions, thus ensuring real-time processing.