Rubique, a Mumbai-based online marketplace for financial products, has raised an undisclosed amount in a funding round led by Japan’s Recruit Group and Russian venture capital firm Emery Capital. Asset management firm Blacksoil and existing investor Kalaari Capital also participated in the round.
Rubique said in a statement that it will use the fresh capital to strengthen its technological and analytics capabilities. It also plans to expand its portfolio of credit products to boost its reach.
The company said it has been unit economics positive at the transactional level and will be aiming to break even next year. “Apart from this round, we are also in the final stages of closing another tranche of funding, to be led by couple of marquee investors,” said Rubique co-founder and chief executive officer Manav Jeet.
Jeet had told VCCircle last September that Rubique was in advanced talks with Chinese and Emirati venture capital firms besides existing investors to raise $20 million (around Rs 128 crore) in its Series B round of funding. Rubique is a credit facilitator for small and medium-sized enterprises (SMEs) and individuals.
In the SME segment, it focuses on loans for commercial vehicles and construction equipment. The retail segment includes home loans, personal loans and two-wheeler loans, among others. Read more from vccircle.com…
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