Recruit Investment in FinTech Company Rubique Technologies India Pvt. Ltd. Which Matches Small and Medium Businesses With Financial Instruments in India
Recruit Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President: Yoshihiro Kitamura; referenced below as "Recruit") has invested in the FinTech company Rubique Technologies India Pvt. Ltd. (Headquarters: Mumbai, India; CEO: Manav Jeet; Hereinafter "Rubique") which matches small and medium businesses with financial instruments in India, through its investment subsidiary RSP India Fund, LLC.
1. Purpose and Background
The need for financing for small and medium businesses and small-scale enterprises in India is on the rise, but the issue remains that these small and medium businesses have difficulty finding financial instruments which meet their requirements. Rubique has digitized many financial instruments which were previously paper-based and made it possible to perform matching with these instruments online. With it's unique Online Plus approach, Rubique has been able to ease out cumbersome application procedures through advanced technology, thus has made it possible to improve financing rates and optimize procedures.
Through this recent investment, Recruit aims to work towards the expansion of this service alongside Rubique. Rubique plans to promote further client acquisition and expansion of features for the service through this funding.
2. Overview of Rubique Technologies India Pvt. Ltd.
Rubique Technologies India Pvt. Ltd. provides the lending marketplace Rubique and makes it possible for applicant businesses to find their optimal financial instruments by digitizing the application data of small and medium businesses as well as more than 250 financial instruments and performing matching using their proprietary algorithm. In addition, by coordinating directly with the systems of financial institutions, they have made it possible to perform procedures leading up to the implementation of financing online and in real time, and have cut down on the time and effort required to receive funding.
Rubique is currently affiliated with over 80 financial institutions and has customer base of around 100,000 applications. It has realized 407 million dollars worth of loans and 82,000 credit card setups. Moving forward, the company intends to further increase the number of financial instruments available and expand the regions in which the service is offered in order to provide financial instruments to groups of businesses who were previously unable to access financing.
|(1)||Company Name||Rubique Technologies India Pvt. Ltd.|
|(3)||Location||Unit No. 5, B Wing, Second Floor, Krislon House Saki Vihar Road, Saki Naka Mumbai, 400072|
|(5)||Main business||Online lending marketplace Rubique|
3. Overview of RSP India Fund, LLC.
The fund aims to discover new technologies and new business models, and to acquire business opportunities which are relevant to new business development for the Recruit Group in India.
|(1)||Company Name||RSP India Fund, LLC.|
|(3)||Address||8-4-17 Ginza, Chuo Ward, Tokyo|
|(4)||Established||April 8, 2015|
|(5)||Main Business||Investment development and venture capital|