Launched operation in six new cities including Jaipur, Vadodra, Surat, Pune, Nashik, and Hyderabad; intends to achieve 40% Q-o-Q growth and aims to disburse 25Cr per month
Ruptok Fintech Pvt. Ltd., a gold-tech platform for loans, has announced the launch of its operations in six cities including Jaipur, Vadodra, Surat, Pune, Nashik, and Hyderabad. Offering logistics and technology solutions, Ruptok endeavors to provide instant disbursal of loans against gold jewellery at the customer’s doorstep. With the launch of its operations in six new cities, the company intends to strengthen its foothold as a leader in the emerging gold-tech landscape across the nation. The company will be employing over 90 people across roles in these cities. It has aggressive plans to be present in 27 cities by the end of FY22.
Founded in July 2020, Ruptok Fintech Pvt. Ltd. has witnessed a rapid growth trajectory since its inception. Within a short span of one year, Ruptok has served a total of over 1400 customers and disbursed over INR 60 Crores so far. With the launch in six new cities, Ruptok is now present in eight cities. Earlier this year, Ruptok has also acquired a Mumbai based brand -GoldUno by Vinrak Technologies Private Limited in an all-stock deal to venture into the city.
Speaking on the expansion, Ankur Gupta, Founder and CEO, Ruptok Fintech Pvt. Ltd. said, “We realised the appetite of loans against gold is intensifying in multiple cities. We did in-depth research to understand the potential of such markets that need utmost consideration at this moment. Catering to the immediate lending requirements of the borrowers, we introduced our services in six new cities across the nation as our business model is agnostic to these locations. Our deep knowledge of these markets gives us a unique grasp of addressing the distinct clients and their needs strung together in the same package. We have strategically launched our operations in these cities to propel the growth of the company. Apart from our plans to expand operations, we are also targeting to look at a 40% quarter-on-quarter growth and further our goal of strengthening Ruptok’s foothold in India.”
Ruptok’s expansion and rapid business growth has been fuelled by its seamless, digitised services. As the pandemic infused demand for gold loans continues to rise, Ruptok aims to further its business growth and achieve its goal of disbursing 25 Cr per month in the 2nd quarter post this expansion.
Source: Business World
