Indian Fintech Rupeek, a Gold Lending Startup, has Launched “Zero Contact” Gold Mortgage Kiosks to Present Financing Choices throughout COVID-19

Rupeek, an Indian on-line gold mortgage firm, has launched RupeekZ, a “zero contact” gold mortgage kiosk, with a purpose to safely difficulty gold loans, following the COVID-19 outbreak and ensuing financial challenges.

The Fintech agency says it goals to get rid of human contact throughout transactions to forestall the additional unfold of the Coronavirus.

RupeekZ makes use of germicidal expertise to show the gold to UVC gentle in a closed field surroundings. This course of helps take away a lot of the germs and viruses. The answer has been designed in a way which requires no contact between the borrower and the corporate employees.

The expertise permits clients to soundly get hold of loans in trade for his or her gold throughout these troublesome occasions.

Rupeek’s administration confirmed that it will likely be putting in the kiosk in several places throughout India together with the cities of Bengaluru, Chennai, Hyderabad and Mumbai.

Prasad Shahane, head of Lender Partnerships at Rupeek, said:

“Consistent with its modern options for gold loans for the debtors and the banks, Rupeek wished to give you a secure approach of pledging gold at our doorstep in addition to in- department choices. We gathered enter from our clients and companions via a number of prototypes, all inside the final couple of months, and are comfortable to current the RupeekZ kiosk.”

Shahane added:

“We hope that we create an surroundings of security and simple credit score for our clients, banking companions and workers alike.” 

Rupeek maintains enterprise operations in 11 cities throughout India. The corporate is planning to develop its operations within the subsequent few months, Shahane confirmed.

Rupeek secured $30 million in capital in November 2019 via an funding spherical led by Bertelsmann India Investments. Current traders Accel and Sequoia India additionally took half within the spherical.

Rupeek’s administration had famous at the moment that it had been disbursing $150 million in gold loans per 12 months, and that its operations have been increasing 20% every month.