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...