Ruptok Fintech, a Delhi-based fintech platform for gold loans, has acquired Vinrak Technologies, a Mumbai-based company that owns the GoldUno brand, in an all-stock deal.

Now, with the acquisition of Vinrak Technologies, Ruptok Fintech will enter the Mumbai market.

As per Ruptok Fintech, it will be offering logistics and technology solutions for gold loans at competitive prices to financial institutions.

Online Gold Loan Service Provider

Ruptok is an online gold loan service provider that claims to offer ‘Gold Loan Delivery in 30 Minutes.’ The fintech startup has massive expansion plans and aims to expand its operations to 22 cities by the end of March 2022. Also, Ruptok will launch its operations in Jaipur, Surat, and Pune in the upcoming weeks.

Started in 2015, GoldUno is a one-stop-shop to discover, compare and choose the best deals on gold loan products. It offers gold loan from banks and NBFC’s with a wide variety of schemes curated as per the customer’s need.

As part of the acquisition deal, GoldUno’s team, as well as the founders, will join Ruptok’s team and will help the company with pan-India expansion.

Talking about the acquisition, Ankur Gupta, Founder at Ruptok, said,

“For many years, GoldUno has been leading the GoldTech market in Mumbai and has triumphed customers’ trust. Keeping the ongoing scenario in mind, we believe that the GoldTech industry is expected to bolster in the upcoming days and will further attract the interest of many customers and industry leaders. This acquisition has further strengthened our commitments towards providing accessible gold loans, not only to individuals but to small and large businesses as well.”

Ruptok Fintech will also join hands with the channel partners of Gold Uno, including Fincare Small Finance Bank and Catholic Syrian Bank, for the gold loan business.

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