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Fast pace growth continue for Rubique, achieves 48.8% growth over FY 2016-17 in first four months of FY 18

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Cumulative loan approval rate for retail and SMB credit rises to over 60% for Rubique and total loan disbursement facilitation is touching over INR 488 crores

Mumbai, August 22, 2017: Yet again it’s proven that technology can do wonders and so does it have for Rubique’s exponential growth in FY 18.
Among the few success stories driving India’s rapidly growing digital financial services sector is Rubique, the leading fintech company has disbursed loans worth INR 488 crore in last 4 months, marking a 48.8% growth in comparison to FY 2016-17, while resulting in a substantial rise in revenue as well.
Rubique is the only online platform offering products across category of Retail & SMBs, and despite its exponential growth, it has maintained its ratio of Retail v/s SMB split as 40:60. With more and more credit policies getting digitized & algorithms getting integrated with platform, Rubique is experiencing a higher approval ratio & the cumulative approval ratio for retail & SMB products is over 60%.

Speaking on the achievement, Manav Jeet, MD & CEO - Rubique said, “It is undoubtedly a significant accomplishment for the company to have performed consistently. The overwhelmingly positive response to our products has been the result of a combination of factors such as the adoption of latest technology and increasingly digitised processes. The sizeable SME sector in India continues to be a major contributor to our growth, occupying 60% of the loans disbursed by Rubique. We are witnessing ecosystem too gearing up for the change & increasingly financial institutions are working with us for technology integrations for seamless process. We are constantly innovating our approach to facilitate loans to consumers in a quick, hassle-free, convenient, and transparent manner. Our aim for the immediate future is to disburse INR 2000 crores of loans by 2018 which does not seem to be so distant milestone now”

Rubique has been transforming the traditional lending process through technological interventions in an unprecedented manner ever since its inception in 2014. This has helped a tremendous number of customers fulfil their financial requirements. Some of the recently launched products bringing tech-driven paradigm shifts in traditional practices include :
Rubique’s unique Online PLUS model enables users to get their loan applications processed faster through PAN verification, Aadhaar based ekyc, Credit bureau integration, banking analysis, enhanced logic in proprietary matchmaking algorithm and addition of new data science methodologies. They can also receive online in-principle approval on various products along with real time status tracking. The fulfillment is handled by Rubique’s tech-enabled business associates.

Rubot - This AI and decision engine powered bot is aimed at easing transaction experience by making use of interactive messaging interface, customized chats basis past interactions in the form of a live chat.

Rubique’s lending gateway provides unified financial interface which allows our partners to complete their application and check exact offers presented through our match making logic. Rubique already has 34 strategy partners across various industries using our lending gateway to provide services such as cards, medical loans, education loans, wedding loans etc. to their customers.
These advanced technology products have enabled the platform to disburse around USD 270 million crore worth of loans, 43000+ credit cards and realized USD 3.8 million revenue till date. Rubique platform has 130+ credit policy algorithms out of 215 products available across.

About Rubique
Fintech Company Rubique is the leading marketplace lending platform in India. The platform empowers individuals & SMBs with an easy & smoother access to finance through wide range of loan, credit card * insurance products. Built on proprietary matchmaking algorithm, Rubique’s marketplace platform has been integrated with financial institutions’ systems for real time processing & for providing online approvals to the customer. The advance technology solution not only reduces the processing time significantly but the data analytics done on hundreds of data points helps to bring predictability & assess creditworthiness offering best deal to their customer. 

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