Rupeek’s $30 Million Fundraising

Khaitan & Co advised Bertelsmann Nederland B.V. in relation to series C round of investment in Rupeek Fintech Private Limited.

Rupeek, which operates an online marketplace for gold loans, raised $30 million in a funding round led by investment firm Bertelsmann India. Existing investors Accel and Sequoia Capital India also participated in the round.

The fresh funds will be used towards product development and market expansion, the company said in a statement on Monday.

Rupeek is currently disbursing gold loans at an annual run rate of more than $150 million and is growing 20% month-on-month. The organized gold loan disbursal in India was estimated at $90 billion per year, the company said. India currently holds 27,000 tonnes of gold worth more than $1 trillion, out of which only 6-7% is monetized through the organised market. The unorganized market is estimated to be three times the size of the organized gold loan market.

Started in 2015 as an asset-backed lending marketplace, Rupeek leverages technology to operate with a branchless model. Offering a 30 minutes doorstep service for gold loans, Rupeek’s platform offers on-demand pickup and return of the valuables.

Khaitan & Co advised Bertelsmann Nederland B.V. with a team including Mayank Singh (Picture), Sanchit Agarwal, Abin Francis and Tanvi Kumar.

Involved fees earner: Tanvi Kumar – Khaitan & Co.; Mayank Singh – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: Bertelsmann Group;