UNVEILING A RENEWED BRAND ENTITY, RUBIQUE 2.0 LAYS OUT 100 CR MONTHLY REVENUE
Bangalore May 4th 2018: Setting an example on how grassroot level innovation propelled by disruptive technologies in the traditional banking space, can simplify complex financial procedures for the entire nation, Rubique Technologies PVT LTD, India’s largest online financial matchmaking platform has today announced the start of its new journey with Rubique 2.0; unveiling its new brand identity. Currently, clocking $7.2 Mn (INR 47 Cr) revenue in March 2018, with a monthly revenue of INR 3.5 Cr, the company aims to reach an INR 100 crore month on month revenue by 2021 and plans to breakeven by 2019.
Laying outits 2.0 vision, as initial steps, Rubique will sharpen its focus on creating arobust technology based financial ecosystem in the markets, earlier untouchedby Fintech and further strengthen its technological and analytics capabilitiesto expand its credit product offerings to deepen its reach to small enterprisesand underserved micro enterprises. As a part of its ambitious growth targets,the company has planned to heavily invest in newer products andpartnerships under its Insurance segments, and further expand its productdistribution into 100 more cities in India this year.
Bringingalive its renewed brand identity, Rubique Technology has unveiled its new logowhich enshrines its core values and mission statement, to fulfil everyfinancial aspiration in the Simplest, Shortest & Speediest way possible.The new logo represents the three pillars of the company- FIs, Customers andinfluences: integrating deep technology and domain expertise, applying insightsfrom across industries, and consistently delivering world-class integrated,end-to-end solutions for all financial services. It also highlights Rubique’sstrong technology heritage, signifying a higher level of engagement and brandpermission that helps all stakeholders leverage its technology expertise toaddress their business and financial requirements and drive futureopportunities in this digital era.
Speakingon the occasion, Manav Jeet, MD & CEO, Rubique, said “Almost around four yearsback we started a journey with a vision to disrupt Indian banking sector withcutting edge technology and frugal innovation to simplify finances forindividual and MSMEs. We stumbled, learned and grown into one of the foremostsuccess stories driving India’s rapidly-growing digital financial services sector.We now introduce, the second leg of our journey, Rubique 2.0, leapfrogging intothe future of banking with a renewed and re-imagined focus; delving deeper intonewer and underserved markets with the power of technology enabled financialinclusion. Rubique2.0 encapsulates what we do and mean, for our partners – FIs,Customers and Business Associates - and these values find expression in our newbrand identity.”
In itsconstant endeavour to stay ahead of the technology innovation curve and bring asymbiotic relationship between traditional lending institutions and technology,the fintech major plans to develop technology products for theecosystem to add push for digital adoption & facilitate new technologiesinto banking ex. TAB solution facilitating finance for SME customers,alternate data based credit scoring mechanism to facilitate underwriting forfirst time borrowers using machine learning and big data analytics; createinfrastructure to mitigate fraud with deepen security and data privacy and leveragealternate data, image recognition and video analytics on SPOT to automate datafilling and verification thus making customer on boarding seamless and hasslefree.
Establishedin the year 2014, Rubique with its technology thinking of financial services,has proven itself as one of the fastest growing Fintech companies inIndia, witnessing 4X growth year on year. Currently, serving morethan 2 lakh customers with offerings varying from Loans, Credit Cards toInsurance, the company has helped facilitate a massive disbursement of INR2,670 crores and over 82,000 credit card setups, till date through itsplatform, almost 65% of which is targeted to SMEs in India. Growing at a rapidpace year on year, Rubique has witnessed an exponential growth of 6x inloan disbursement from FY 16 A – FY18E as of March 2018, 8.9Xgrowth in Credit Card set ups and 7.8 X growth in Revenue.
Speakingon the renewed brand identity, Sheetal Mayekar, Founding Member and Strategic& Commercial Intelligence, said, “The new brand identity marks our journey oftransformation in the digital world. Our brand refresh signals an even closerengagement with customers, focusing on millennials with greater innovation inbringing advanced technologies to access deeper markets and ease credit accessto the country and focus on entire ecosystem growth working as a collaborator.”
Withconstantly innovating & evolving industry, the futuristic technologies suchas Blockchain, Big Data and AI used by Rubique analyses multiple data points toassess the creditworthiness of the customers and provide them the offers theyare eligible for, thereby removing the manual efforts in the loan processingsystem.
Mr. SurajAgarwal, CTO Rubique added, “The digital access to finance will continue to massively impact allindividuals and businesses in the country. Undoubtedly technology will play avital role in uplifting the Indian economy over the next five years, andtherefore Rubique has taken a holistic approach to introduce tech interventionat all possible touch points. Implementation of disruptive technologiesblockchain. Smart KYC & Paperless loan process is nothing but one steptowards creating a unified flow of information to make the transactionssimpler, and reduce the processing time for customers”
With therecent close of its new funds led by two of the world’s largest corporate andinvestment firms, the investment subsidiary RSP India Fund, LLC of Japan’sRecruit Co. Ltd. and Russian venture capital management company, Emery Capital,along with Blacksoil and existing investor Kalaari Capital, Rubique isplanning to invest heavily in Data Science methodologies and leverageinsights generated to build stronger business propositions. The company hasrecently built a data science team which leverages its rich customer data andbank credit policies to build a proprietary AI based Matchmaking and rankingalgorithm that provides a customized list to each consumer based on his/herneeds and profile.
Focusing onmaintaining a tech-led asset-light model, while remaining unit economicspositive at the transaction level, Rubique 2.0 to have a renewed focus oninnovation, marketing and strategic partnerships, particularly in the B2Csegment, bring advanced technology features at every stage of loan processingcycle through its Online Plus Model, Improving operational efficiency &reducing cost of acquisition, creating easy access to finance with a focus onbridging financing gap and make finance easy & accessible to thecustomers.