Rupeek Revenue, Valuation, Funding & Investors
Rupeek is valued at $219M as of May 2024, a 21.9x multiple on its last reported $10M revenue.
Last Rupeek valuation
$219M
Undisclosed stage · May 2024
Last Rupeek funding round
$21M
Undisclosed stage · May 2024
Rupeek revenue
$10M
Undisclosed stage · May 2024
Key investors in Rupeek
Accel
Sequoia Capital
Notable Capital
Bertelsmann India Investments
Peak XV Partners
KB Investment
About Rupeek
Rupeek is a Bengaluru-headquartered fintech company offering instant gold loans through its mobile app and network of urban collection centers across 300 Indian cities. The platform appraises gold jewelry digitally and disburses funds within minutes, also providing personal loans against salary and property.
Founded
2015
HQ
BangaloreWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Revenue
$10M (May 2024)
Valuation
$219M (May 2024)
Rupeek Valuation
Rupeek is currently valued at $219M, based on its undisclosed-stage round in May 2024.
The $21M round was led by 360 ONE Asset, with participation from Elevation Capital and BlackSoil.
Rupeek's valuation has grown 7.1x from $31M at its Series A in February 2018 to $219M in May 2024, across 4 priced rounds.
Rupeek valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| May 2024 | Undisclosed stage | $219M | 21.9x |
| Jan 2022 | Undisclosed stage | $634M | 48.8x |
| Feb 2020 | Series C | $300M | - |
| Feb 2018 | Series A | $31M | - |
Rupeek Revenue
Rupeek's latest recorded revenue is $10M, as of its undisclosed-stage round in May 2024. At a $219M valuation, that implies a 21.9x revenue multiple.
Revenue moved from $13M in January 2022 to $10M in May 2024, while the revenue multiple moved from 48.8x to 21.9x.
Rupeek revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| May 2024 | $10M | $219M | 21.9x | Undisclosed stage |
| Jan 2022 | $13M | $634M | 48.8x | Undisclosed stage |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Rupeek Funding History
Rupeek has raised a total of $210M across 9 funding rounds.
Rupeek's first fundraising round was a $2M seed round in January 2017. The most recent completed round was a $21M undisclosed-stage round in May 2024.
Rupeek funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2024 | Undisclosed stage | 360 ONE Asset (lead); Elevation Capital; BlackSoil | $21M | $219M | Rupeek is an online gold loan platform offering digital financing against gold assets. In March 2024, it raised Rs 50 crore from 360 One Large Value Fund (part of 360 ONE Asset), with Fintrackr estimating the post-allotment valuation at Rs 2,050 crore ($250 million), reflecting a 60% cut from its peak $634 million in January 2022. The funding supports expansion, growth, and general corporate purposes, with the investor acquiring 2.44% stake post-allotment. Rupeek has cumulatively raised around $150 million from backers including PeakXV, Accel, and Bertelsmann. Reports indicated valuation pressure due to regulatory changes in the gold loan sector and slowed growth, with prior talks of a 50-60% cut from ~$600 million. The gold loan market faces investor caution amid sector challenges, contributing to Rupeek's down round. |
| Sep 2022 | Undisclosed stage | Venture Catalysts (lead); Bertelsmann; Sprint Vc; 100Unicorns; Sequoia Capital; Sunn91 Ventures; Accel; ZNL Growth | $16M | - | Rupeek is a Bengaluru-based lending tech platform founded in 2015, offering instant gold loans, gold-backed personal loans, and doorstep services. It operates as a business correspondent for banks like Federal Bank and Axis Bank, while maintaining a small in-house NBFC book through Rupeek Capital. In FY22, Rupeek reported revenue of Rs 112.78 crore. Its assets under management grew significantly from Rs 370 crore in March 2022. The company achieved a valuation exceeding $600 million in 2022, though specific details for the June 2022 round led by Venture Catalysts with investors including 100Unicorns, Accel, Bertelsmann, Sequoia Capital, Sprint VC, Sunn91 Ventures, and ZNL Growth were not detailed in sources. Rupeek later turned profitable in its core lending business, reporting a profit after tax of Rs 15 crore in the first half of the current financial year as of late 2025, compared to prior losses. |
| Jan 2022 | Undisclosed stage | Lightbox (lead); Bertelsmann India Investments; Notable Capital | $34M | $634M | Rupeek Fintech Pvt. Ltd. is a Bengaluru-based gold-loan startup founded in 2015 by Sumit Maniyar, Ashwin Soni, and others, offering a tech-led doorstep model for digital asset-backed lending, including gold loans, credit risk assessment, and personal loans. It operates as an online platform connecting borrowers and lenders, competing with legacy NBFCs, banks, and fintechs like Indiagold, while targeting India's $2 trillion gold asset monetization opportunity to provide accessible secured credit. In early 2022, Rupeek raised $34 million (Rs 252 crore) in a funding round led by new investor Lightbox, with participation from existing investors including Bertelsmann India Investments and others like GGV Capital. A Rupeek spokesperson confirmed the post-money valuation at $634 million, up from around $515 million in a prior $33 million round in March 2021. The funds are earmarked to scale operations, expand from 35+ cities to over 120, grow the lender partner network from four to more than 10, build disruptive gold-monetization products in pilot stage, hire talent, and establish India’s largest digital asset-backed fintech platform. At the time, Rupeek demonstrated resilience amid 2021 gold price declines, doubling gold loan disbursals in December 2021 compared to 2020 and achieving an annual disbursement run rate of $1 billion by December 2021, with over 500,000 customers. The RainMaker Group advised on the transaction. Lightbox partner Prashant Mehta highlighted Rupeek's innovation in product, technology, and customer education to overcome inertia in gold loans and fuel economic growth. Post-round, Rupeek continued fundraising, reaching total capital of over $143 million across 11 rounds by 2024, with a Series E-II of $15 million in June 2024 at a lower valuation of around $239 million, and eyes on $50 million more in 2025-2026 at higher multiples amid NBFC capitalization plans and Rs 2,514 crore AUM as of September 2024. |
| Mar 2021 | Series A | VEF (lead) | $7M | - | Rupeek is India’s fastest-growing asset-backed digital lending platform focused on gold-secured loans. In March 2021, VEF invested $7 million in Rupeek. The investment was VEF's second in India. Rupeek had previously raised $60 million across two rounds in 2020 led by GGV Capital, Binny Bansal, and Bertelsmann India Investments. A subsequent $34 million round led by Lightbox valued the company at $634 million. VEF later invested an additional $5 million in a bridge round led by Lightbox. |
| Mar 2021 | Series E | Notable Capital (lead) | $33M | - | Rupeek is a gold loan enabler founded in 2015 by Sumit Maniyar and Ashwin Soni that enables secured lending against gold jewelry and helps monetize India's idle household gold. The platform operates a fintech model connecting borrowers to lenders and was connected to over 500,000 customers operating across 30+ cities in India at the time of this round. In March 2021, Rupeek raised $33 million in a Series E funding round led by Notable Capital (source identifies this as USD 33 million with March 2021 date). For the fiscal year ended March 31, 2021, Rupeek's revenue from operations increased to INR 25 crore, more than double its previous operational revenue, while the company also achieved a $1 billion annual loan disbursement rate by December 2020, a first among India's asset-backed lending startups. The startup had reduced its cash burn by 53 percent from FY20 to FY21. Rupeek's earlier Series C round in February 2020 had raised $60 million led by Bertelsmann India Investments and Notable Capital. By May 2024, the company had raised an additional INR 175 crore (approximately $21 million) from 360 ONE Asset, bringing total disclosed funding to over $200 million. |
| Feb 2020 | Series C | Bertelsmann India Investments (lead); Notable Capital (lead); KB Investment; Binny Bansal; Accel; Tanglin Venture Partners; Peak XV Partners | $60M | $300M | - |
| Aug 2019 | Series B | Bertelsmann India Investments (lead); Accel; Peak XV Partners | $30M | - | Rupeek is a Bengaluru-based fintech startup founded in 2015 that provides gold loans to consumers using gold or jewelry as collateral, offering services like home visits for gold assessment, better interest rates, and longer tenors compared to traditional pawnbrokers. The company partners with banks such as Federal Bank and Karur Vysya Bank for loan disbursement and operates in major Indian cities including Mumbai, New Delhi, Jaipur, Chennai, and Ahmedabad, serving over 2,000 locations. Rupeek raised $30 million in August 2019 in a round led by Bertelsmann India Investments, with participation from existing investors Accel and Sequoia Capital India (now Peak XV Partners), to fund product development, market expansion, technology upgrades, and scaling operations. At the time, Rupeek claimed an annual run rate above $150 million, growing at 20% monthly, with monthly loan disbursements reaching $28 million by early 2020, up from $1.5 million in January 2019 and $16 million in September 2019. The organized gold loan market in India is estimated at $90 billion annually, with Rupeek aiming to bring transparency and standardization through proprietary tech for gold purity assessment amid India's vast idle gold holdings worth over $1 trillion. |
| Feb 2018 | Series A | Accel (lead); Sequoia Capital | $7M | $31M | Rupeek is a Bengaluru-based online gold loan platform that operates as a marketplace for gold loans, accepting only gold jewelry with one-year tenures and partnering with Federal Bank and Yogakshemam Loans Pvt. Ltd. The company raised $6.83 million (Rs 44 crore) in a fresh funding round led by Accel Partners with $5 million (Rs 32.55 crore), and participation from existing investor Sequoia Capital. This brought total funding to $9.25 million (Rs 59.6 crore). VCCircle estimated the post-money valuation at $31 million (around Rs 200 crore), a five-fold increase from the prior round. Prior investments included $2 million from Sequoia in January 2017 and $346,000 (Rs 2.23 crore) from angel investors between 2015 and 2016. |
| Jan 2017 | Seed | Sequoia Capital (lead); Tracxn Labs; BetaPlus Capital | $2M | - | - |
Who has invested in Rupeek?
21 investors have backed Rupeek across its funding rounds, including Accel, Sequoia Capital, Notable Capital, Bertelsmann India Investments, Peak XV Partners and KB Investment.
Lead investors include 360 ONE Asset, Venture Catalysts, Lightbox, VEF, Notable Capital and 3 other investors.
Rupeek Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Palo Alto, CA | 4 | Lead | Feb 2018 | |
 Abcoude | 3 | Lead | Aug 2019 | |
| San Francisco, CA | 3 | Lead | Jan 2017 | |
| San Francisco, CA | 3 | Lead | Feb 2020 | |
| Bangalore | 2 | Participant | Aug 2019 | |
 Gütersloh | 1 | Participant | Sep 2022 | |
 Seoul | 1 | Participant | Feb 2020 | |
| Gurgaon | 1 | Participant | May 2024 | |
| New York City, NY | 1 | Participant | Sep 2022 | |
| India | 1 | Participant | Sep 2022 | |
| Bangalore | 1 | Participant | Jan 2017 | |
| India | 1 | Lead | May 2024 | |
| Bangalore | 1 | Participant | Jan 2017 | |
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Start Free TrialRupeek Competitors
Rupeek competitors include listed companies like Better Home & Finance and X Financial, and private ones like Bynk, TomoCredit, Clearco and JULO.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Stockholm | Private | - | - | $216M | - | |
| San Francisco, CA | Private | - | - | $222M | - | |
| United States | Publicly listed | $207M | ($152M) | $231M | 4.0x | |
 Toronto | Private | $60M | - | $200M | - | |
 Jakarta | Private | - | - | $200M | - | |
 China | Publicly listed | $1.1B | $258M | $181M | - |
Rupeek Public Comps
Rupeek is still privately-owned, but its public comps include Kina Securities, Resimac Group, Security National Financial, Eleving Group, Garanti Faktoring, Stellus Cap Investment, RentGuarantor Holdings, Consumer Portfolio Services, Better Home & Finance and Pennant Park Investment.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $139M | - | 1.6x | 1.8x | - | - | |||
| $114M | - | 98.7x | 17.9x | - | - | |||
| $345M | $55M | 0.5x | - | 3.5x | - | |||
| $288M | $60M | 2.7x | 2.6x | 12.9x | 5.0x | |||
| $83M | - | 9.4x | - | - | - | |||
| $93M | - | 8.9x | 8.7x | - | - | |||
| $3M | ($2M) | 63.9x | 13.9x | (114.2x) | 50.3x | |||
| $202M | - | 18.3x | 8.5x | - | - | |||
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Common questions about Rupeek
| When was Rupeek founded? | Rupeek was founded in 2015. |
| Where is Rupeek headquartered? | Rupeek is headquartered in Bangalore, India. |
| Is Rupeek publicly listed? | No, Rupeek is a private, VC-backed company. |
| What is Rupeek's valuation? | Rupeek was last valued at $219M in its undisclosed-stage round in May 2024. |
| How much funding has Rupeek raised? | Rupeek has raised $210M across 9 funding rounds. |
| What was Rupeek's last funding round? | Rupeek's last funding round was a $21M undisclosed-stage round in May 2024, led by 360 ONE Asset. |
| Who are Rupeek's investors? | Rupeek's investors include Accel, Bertelsmann India Investments, Sequoia Capital, Notable Capital, Peak XV Partners, Bertelsmann, KB Investment, Elevation Capital, Sprint Vc, 100Unicorns and 11 others. |
| What is Rupeek's revenue? | Rupeek's latest recorded revenue is $10M (May 2024). |
| What is Rupeek's revenue multiple? | Rupeek's latest valuation implies a 21.9x revenue multiple ($219M valuation on $10M of revenue). |
| Which companies are comparable to Rupeek? | Companies comparable to Rupeek include Bynk, TomoCredit, Better Home & Finance, Clearco, JULO and X Financial. |
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