Rupeek aims to bring financial inclusion for the masses and introduce products that are transparent, people-friendly and provide value for lenders and borrowers. Simplified and affordable gold loans are only the beginning. Rupeek leverages technology to operate with a branchless model and passes the benefit of lower operational costs to the end customer. Online gold loan platform Rupeek on Tuesday said that it has raised an additional $30 million in equity funding. Earlier in August, the startup had announced raising another $30 million, taking the total fundraise to $60 million over two rounds. Silicon Valley-based global venture capital firm, GGV Capital, Bertelsmann India Investments, Binny Bansal, KB Investments Co (KBIC), Tanglin Venture Partners, Sequoia India, and Accel Partners participated in these rounds.
According to the startup, it will invest the fresh funds into its technology platform, use it for customer acquisition, and improving customer access to credit in the country.