Rubique, previously known as bestdealfinance, was formed in October 2014, with the vision to become the largest online marketplace for financial products. The organisation’s goal is to demystify complex financial processes and make consumption and distribution of loans and credit cards simple for our consumers and business associates. Rubique has raised Series A funding, led by Kalaari Capital with participation from YourNest Angel Fund, Globvestor & Dexter Angel Circle, in September, 2015.
As a fresh move Rubique, is planning to take a big leap by bringing the likes of State Bank of IndiaBSE 1.76 % and other large state-run lenders on board. Supported by venture capital firm Kalaari Capital, Rubique is into distribution of retail loans, small business loans and credit cards for online customers. Aiming to expand the product line, it is now looking to partner a majority of the state-run banks, which controls two-third of the banking pie.
Rubique founder & chief executive Manavjeet Singh said in an interview,
“We aim to be the largest online marketplace for financial products, We are talking to multiple large state-run banks but not in a position to disclose the names as yet.”
So far it has lenders like IDBI Bank and PNB Housing Finance on its panel, and recently even Axis bank, HDFC bank and ICICI bank have also started lending through them. With a view to expand operations it has looped in 52 financial intermediaries and is in advance stage of partnering SBI Cards & Payments Services. Rubique currently has physical presence in Mumbai, Delhi, Kolkata, Pune, Bangalore and Hyderabad. However, it is looking at expanding further.
Partnering with State run banks will provide the much needed boost to this company and will help it move further on the track of progress.