Mumbai based fintech Startup Rubique Technologies raises an undisclosed amount of funding led by Japan’s Recruit Group and Russian venture capital management company, Emery Capital.
The funding will enable Rubique to further strengthen its technology and analytics capabilities.
Established in the year 2014, the company has registered 200k customers and facilitated loan disbursement worth approximately Rs. 2,670 crores and over 82,000 credit card setups through its platform.
The company generated revenue of around $7.2 million. Rubique aims to break even in 2019 and achieve Rs. 100 crores revenue by 2021.
“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. With the domain expertise our investors bring on-board, we look forward to leveraging their insights as we build a leading platform for digital lending in India,” said Rubique CEO Manav Jeet.
Recently, the company has built a data science team which leverages its rich customer data and bank credit policies to build a proprietary AI based Matchmaking and ranking algorithm that provides an acustomized list to each consumer based on his/her needs and profile. This offers manifold advantages in terms of higher approval rates, better customer satisfaction and improved sourcing to its financial partners.
Rubique is a leading financial online matchmaking platform founded with a vision to fulfill every financial aspiration in the simplest, shortest and speediest way possible through a wide range of loan, credit card and insurance products.
Built on an AI-based recommendation engine, Rubique’s online credit marketplace platform has been integrated with financial institutions’ systems for real-time processing and providing online approvals to the customers. Right from the consumer, influencers to financial institutions, Rubique offers a host of technology solutions to cover the entire lending spectrum.