Mumbai, May 15, 2018: The leading online financial matchmaking platform – Rubique Technologies, has appointed former Snapdeal CFO, Anup Vikal on its’ advisory board. This move is part of Rubique’s aggressive growth plan for scaling up its business and march towards the market leadership position. As a strategic advisor, Anup will provide mentorship and guidance to Rubique’s team for achieving business growth and scaling up to reach deeper business pockets in the country.
Anup with his exceptional leadership skills and vast experience will direct Rubique in its critical transformational and scaling-up initiatives, by helping the brand undertake and complete the technology transformation, new lending projects, partnerships and profitability. He will be working closely with the senior leadership team on financial, internal controls and operations for Rubique. Apart from this, his role will also involve a critical element of investment advisory and support the board in building a robust growth strategy.
Speaking on the announcement, Manav Jeet, Managing Director & CEO, Rubique said, “Anup brings with him a wealth of experience across financial and other business verticals in areas of business mentorship and scalability. At this stage when Rubique is set to change the gears and ready to enter market with renowned enthusiasm, Anup’s guidance will help us march in the right direction of making greater inroads across India with our tech-backed financial products and scaling-up to the next stage in evolution. His rich and diverse expertise will help us in accelerating our business growth in both domestic and international markets.”
With over 25+ years of experience in spearheading multi-functionality roles in multiple sectors, across geographies, Anup has helped shape various businesses with his leadership and management abilities and is known for his detailed operational skills.
“India is evolving as a major fintech hub in the world and Rubique is unique model in India serving individuals as well as SMEs. New technologies such as artificial intelligence, big data & blockchain are now a mainstream topic of discussion in many markets. And I’m happy to see that Rubique has rightfully focused on all these technologies to address the current gap & work efficiently with market realities. Such initiatives can simplify financial ecosystem, providing quick, easy and hassle-free access to credit. Digital technology integration into all areas of a business will bring value to its customers. But this landscape is constantly evolving & hence one must operate with agility. I would be happy to guide team Rubique in this competitive yet interesting domain” Adds, Anup Vikal.
Over the years Anup has helped several brands in business strategies including incubating & developing new businesses, mergers and acquisitions, portfolio management of group of businesses and implementing portfolio restructuring decisions, and has also incubated new businesses like education, travel retail and many more. He is a mechanical engineer from NIT, Surat.
Vikal was a part of organisations like Snapdeal, Interglobe, Bharti Airtel and Tata Finance Currently he is working as CFO at Essar Oil.
Rubique, since inception has seen immense growth in terms of business numbers, loan approvals and disbursements. The company has facilitated an overall loan disbursement of more than INR 2670 crore, of which over 65% are being disbursed to SMEs. It has set up more than 82,000 credit cards and has bank of over 267 financial products from the range of loans to insurance. Currently, Rubique houses more than 2 Lakh customer base in the country.
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 customized 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 & reducing cost of acquisition, creating easy access to finance with a focus on bridging financing gap and make finance easy & accessible to the customers.
Rubique was formed in November 2014, with a vision to fulfill every financial aspiration in the customer’s life cycle in the simplest, shortest and the speediest way through a wide range of loan, credit card and insurance products. Built on a proprietary AI based recommendation engine, Rubique’s marketplace platform has been integrated with financial institutions’ systems for real-time processing and providing online approvals to the customers. The advanced technology solution not only reduces the processing time significantly, but the data analytics done on multiple data points helps bring predictability and assess creditworthiness offering best deals to the customers.
Amid all the fintech firms operating in the country today, Rubique stands out as one of the few success stories driving India’s rapidly-growing digital financial services sector. Rubique has tied-up with over 90 financial institutions for over 260+ products & has already facilitated loan disbursement worth Rs. 2,670 crores, 82,000 credit card setups through its platform and generated revenue worth Rs. 47 crores.
Named as ‘The Most Promising Brand’ by The Economic Times and selected among the top 20 lending fintech players in India by the Financial Express’ Best Bank Awards Jury recently, Rubique has also garnered a lot of international recognition and accolades. Rubique has been selected by the Abu Dhabi Global Market (ADGM) to be a part of the first batch of its FinTech Regulatory Laboratory (RegLab) program. In the Paris Fintech Forum 2017, Rubique was among 130+ fintech participants shortlisted across 25+ countries. These international recognitions not only prove that Rubique’s business model has been validated and but that it also has the potential to be replicated in other regions as well. Recently, Rubique has also been featured in IDC’s FinTech 101 list for Asia/Pacific and mentioned as one of the 10 fastest growing fintechs in India.
For more information, please visit the company’s website at https://www.rubique.com/