Fintech Startup Rupeek Raises INR 51 Cr In A Down Round From 360 One, BlackSoil
India, May 14 -- Gold loan provider Rupeek has raised INR 51 Cr in a down round from 360 One Large Value Fund (formerly IIFL Wealth Management) and BlackSoil.
The fresh capital was raised at a third of the startup's last estimated $600 Mn valuation in 2022. As per Inc42 analysis, the latest round pegged Rupeek at INR 1,785 Cr ($213 Mn as per current exchange rates), down 64.5% compared to 2022.
As per regulatory filings seen by Inc42, the online gold loan platform raised INR 50 Cr from 360 One Large Value Fund while the remaining nearly INR 1 Cr (INR 99.45 Lakh to be precise) came from alternative investment firm BlackSoil.
The development was first reported by Entrackr.
Rupeek' board, on March 20, passed a resolution to allot 1,307 c...
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