Rs 100 crore monthly revenue plan by Rubique

SETTING an example on how grassroots level innovation propelled by disruptive technologies in the traditional banking space, can simplify complex financial procedures for the entire nation, Rubique Technologies, India’s largest online financial matchmaking platform have started their new journey with Rubique 2.0; unveiling their new brand identity. Currently, clocking $7.2 Mn (INR 47 Cr) revenue in March 2018, with a monthly revenue of INR 3.5 Cr, the company aims to reach an INR 100 crore month on month revenue by 2021 and plans to break even by 2019.

 Laying out their 2.0 vision, as initial steps, Rubique will sharpen their focus on creating a robust technology-based financial ecosystem in the markets, earlier untouched by Fintech and further strengthen their technological and analytical capabilities to expand their credit product offerings to deepen their reach to small enterprises and underserved micro enterprises. As a part of their ambitious growth targets, the company have planned to heavily invest in newer products and partnerships under its Insurance segments, and further expand their product distribution into 100 more cities in India this year.

 Bringing alive their renewed brand identity, Rubique Technology has unveiled their new logo which enshrines their core values and mission statement, to fulfill every financial aspiration in the simplest, shortest and speediest way possible. The new logo represents the three pillars of the company- FIs, customers, and influences, integrating deep technology and domain expertise, applying insights from across industries, and consistently delivering world-class integrated, end-to-end solutions for all financial services. It also highlights Rubique’s strong technology heritage, signifying a higher level of engagement and brand permission that helps all stakeholders leverage its technology expertise to address their business and financial requirements and drive future opportunities in this digital era.

Speaking on the occasion, Manav Jeet, MD & CEO, Rubique, said “Almost around four years back we started a journey with a vision to disrupt Indian banking sector with cutting-edge technology and frugal innovation to simplify finances for individual and MSMEs. We stumbled, learned and grown into one of the foremost success stories driving India’s rapidly-growing digital financial services sector. We now introduce, the second leg of our journey, Rubique 2.0, leapfrogging into the future of banking with a renewed and re-imagined focus; delving deeper into newer and underserved markets with the power of technology-enabled financial inclusion. Rubique2.0 encapsulates what we do and mean, for our partners – FIs, Customers and Business Associates – and these values find expression in our new brand identity.”

In their constant endeavour to stay ahead of the technology innovation curve and bring a symbiotic relationship between traditional lending institutions and technology, the fintech major plans to develop technology products for the ecosystem to add push for digital adoption and facilitate new technologies into banking ex. TAB solution facilitating finance for SME customers, alternate data-based credit scoring mechanism to facilitate underwriting for first time borrowers using machine learning and big data analytics; create infrastructure to mitigate fraud with deepen security and data privacy and leverage alternate data, image recognition and video analytics on SPOT to automate data filling and verification thus making customer onboarding seamless and hassle-free.

 Speaking on the renewed brand identity, Sheetal Mayekar, founding member, and strategic & commercial intelligence said, “The new brand identity marks our journey of transformation in the digital world. Our brand refresh signals an even closer engagement with customers, focusing on millennials with greater innovation in bringing advanced technologies to access deeper markets and ease credit access to the country and focus on entire ecosystem growth working as a collaborator.”

 With constantly innovating and evolving industry, the futuristic technologies such as Blockchain, Big Data and AI used by Rubique analyses multiple data points to assess the creditworthiness of the customers and provide them the offers they are eligible for, thereby removing the manual efforts in the loan processing system.

 Suraj Agarwal, CTO Rubique added, “The digital access to finance will continue to massively impact all individuals and businesses in the country. Undoubtedly technology will play a vital role in uplifting the Indian economy over the next five years, and therefore Rubique has taken a holistic approach to introduce tech intervention at all possible touch points. Implementation of disruptive technologies blockchain. Smart KYC & Paperless loan process is nothing but one step towards creating a unified flow of information to make the transactions simpler, and reduce the processing time for customers”

With the recent close of its new funds led by two of the world’s largest corporate and investment firms, the investment subsidiary RSP India Fund, LLC of Japan’s Recruit Co Ltd and Russian venture capital management company, Emery Capital, along with Blacksoil and existing investor Kalaari Capital, Rubique is planning to invest heavily in Data Science methodologies and leverage insights generated to build stronger business propositions. The company has recently built a data science team which leverages its rich customer data and bank credit policies to build a proprietary AI based Matchmaking and ranking algorithm that provides a customised list to each consumer based on his/her needs and profile.

Focusing on maintaining a tech-led asset-light model, while remaining unit economics positive at the transaction level, Rubique 2.0 to have a renewed focus on innovation, marketing and strategic partnerships, particularly in the B2C segment, bring advanced technology features at every stage of loan processing cycle through its Online Plus Model, Improving operational efficiency and reducing cost of acquisition, creating easy access to finance with a focus on bridging financing gap and make finance easy and accessible to the customers.

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