Published By : 30 Apr 2018 | Published By : QYRESEARCH
An online lending marketplace, Rubique Technologies, has generated a new round of funding, which was led by Emery Capital, a Russian venture capital management company, and Japan-based Recruit group, the company said in a statement. The funding round witnessed an active participation from Blacksoil and Kalaari Capital, its existing investor. Although the company has not disclosed the size of the funding, it is estimated to be in the range of US$15-20 mn. Manav Jeet, the CEO of Rubique Technologies, stated that having these global investors on board, which have also invested in similar business models previously, will be a huge value addition to the company. They are connecting the company to these similar enterprises and it has the opportunity to study them closely.
Recruit Group is a massive group of companies, which is based out of Japan and offers HR technologies and several other services. Emery Capital, the Russia-based venture capital management firm, actively invests in early-stage technological startups with a global outlook and has invested in alternative lending companies in Europe, such as ID Finance, and PremFina, a U.K.-based company, which offers software to insurance brokers. Ivan Savelyev of Emery Capital stated that the unique business model and technology thinking of Rubique points towards an impressive capability of the company to hit the ground running to create a financially strong economy with easy access to credit to all segments of the society, whether businesses or millennials. The funding generated will be utilized in hiring more data scientists, advancing technology, and reaching a monthly revenue of US$1.80 by September 2018, the CEO stated.