With this acquisition, Ruptok Fintech will begin its presence in the Mumbai market, while offering logistics and technology solutions for gold loans.
Delhi-based company Ruptok Fintech Private Limited, a platform for gold loans, has acquired Mumbai-based Vinrak Technologies Private Limited, which owns the brand GoldUno. With this acquisition, Ruptok Fintech will begin its presence in the Mumbai market, while offering logistics and technology solutions for gold loans, at prices that are competitive to established financial institutions.
GoldUno was founded in 2015, with an offering of gold loans from a wide variety of schemes curated as per the need of the customer. As part of the Ruptok deal, GoldUno’s founders and the entire team will join Ruptok’s, helping the company with pan-India expansion. Ruptok will further join hands with the Catholic Syrian Bank and Fincare Small Finance Bank, the channel partners of Gold Uno. Ruptok currently operates in Delhi and Mumbai and is set to launch its operations in Surat, Jaipur, and Pune very soon. The company has plans to expand its operations to 22 cities by the end of March 2022.
Source: Business World
