Ruptok Fintech, a Delhi-based fintech platform for gold loans, has raised Rs 16 crore in its pre-Series A funding round from existing and new investors, including Manuvel Malabar Jewellers and industry veterans and HNIs Nivedan Sahay and Neeraj Aggarwala.

As per the startup, the freshly raised capital will be utilised to bolster its business growth by diversifying its loan book and integrating breakthrough technology into its financial products and services.

Ruptok Fintech | Online Gold Loan Service Provider

Founded by Ankur Gupta, Ruptok is an online gold loan service provider that claims to offer ‘Gold Loan Delivery in 30 Minutes.’ The startup claims to have disbursed over Rs 60 crore to 1,600+ customers in the past year.

Speaking on the development, Ankur Gupta, Founder and CEO of Ruptok Fintech Pvt Ltd, said,

“We are delighted to announce the latest capital infusion. The gold loan industry has seen tremendous changes in recent years. As the need for short-term industry and retail loans continues to rise, we aim to strengthen our efforts of providing customers with technologically driven quick loan disbursals.”

Ankur added,

“The raised funds will be used to accelerate our endeavour of providing faster, technologically driven gold loans at the doorstep of the customer. We thank our investors for showing unparalleled faith in our vision.”

In April 2021, Ruptok Fintech acquired Vinrak Technologies, a Mumbai-based company that owns the GoldUno brand, in an all-stock deal. Currently, the Delhi-based fintech platform is a banking correspondent to CSB Bank and Fincare Small Finance Bank.

Recently, the fintech startup expanded its operations to eight cities, including Delhi-NCR, Jaipur, Hyderabad, Mumbai, Vadodara, Surat, Pune, and Nashik, with aims to expand its operations to 27 cities by FY22. 

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