Fast pace growth continue for Rubique, achieves 48.8% growth over FY 2016-17 in first four months of FY 18

Cumulative loan approval rate for retail and SMB credit rises to over 60% for Rubique and total loan disbursement facilitation is touching over INR 488 crores
Mumbai, August 22, 2017: Yet again it’s proven that technology can do wonders and so does it have for Rubique’s exponential growth in FY 18.

Among the few success stories driving India’s rapidly growing digital financial services sector is Rubique, the leading fintech company has disbursed loans worth INR 488 crore in last 4 months, marking a 48.8% growth in comparison to FY 2016-17, while resulting in a substantial rise in revenue as well.

Rubique is the only online platform offering products across category of Retail & SMBs, and despite its exponential growth, it has maintained its ratio of Retail v/s SMB split as 40:60. With more and more credit policies getting digitized & algorithms getting integrated with platform, Rubique is experiencing a higher approval ratio & the cumulative approval ratio for retail & SMB products is over 60%.

Speaking on the achievement, Manav Jeet, MD & CEO - Rubique said, “It is undoubtedly a significant accomplishment for the company to have performed consistently. The overwhelmingly positive response to our products has been the result of a combination of factors such as the adoption of latest technology and increasingly digitised processes. The sizeable SME sector in India continues to be a major contributor to our growth, occupying 60% of the loans disbursed by Rubique. We are witnessing ecosystem too gearing up for the change & increasingly financial institutions are working with us for technology integrations for seamless process. We are constantly innovating our approach to facilitate loans to consumers in a quick, hassle-free, convenient, and transparent manner. Our aim for the immediate future is to disburse INR 2000 crores of loans by 2018 which does not seem to be so distant milestone now”