ET Bureau: Apr 18, 2016

MUMBAI: Capitalising on the huge demand for credit in the country, online marketplace for retail and enterprise loans, Rubique has disbursed credit worth Rs 250 crore and has generated revenue of Rs 4 crore.

“We have received around 20,000 applications for retail loans like car loans, home loans and personal loans and more than 700 applications for small and medium level enterprise loans with an average ticket size of Rs 50-55 lakhs,” said Manavjeet Singh, founder, Rubique.

The Mumbai based fintech startup acts as an online aggregator of various credit products by integrating with the application systems of 54 financial institutions and offers 144 credit products to its users. With the startup generating revenues through every successful loan application the company plans to offer insurance products through its platform within the next quarter.

“With the revenue stream strong, we plan to invest more in technology so that the application process is absolutely smooth, expand offering across 4 more cities other than Mumbai, Pune, Kolkata, Delhi and hope to receive 2 lakh applications by the end of next year,” said Singh, who uses his experience with Citi Bank, HDFC Bank and Yes Bank to facilitate loan application processes.

Rubique had raised Series A funding led by Kalaari Capital with participation from Your Nest Angel Fund, Globvestor and Dexter Angel Circle in September 2015.