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Rubique Strengthens Footprint in Maharashtra; Initiates Operations in Nagpur& Nashik

Targets more strategic expansions across the Western region aiming loan disbursals worth INR 2000 crores PAN India by end of this fiscal year

Rubique, India’s leading Fintech Company, is meticulously progressing towards its goal of providing easy access to loans to borrowers across the country. With the same vision, the fintech innovator is now focusing heavily on the state of Maharashtra with its recent operational set up in Nagpur & Nashik. In order to boost and facilitate rapid development of the large number of SMEs, MSMEs, and large enterprises in the state’s evolving regions, Rubique aims to provide quick and hassle-free loans to the borrower community with strengthened liquidity and capital availability through more expansions.

Having already identified Maharashtra as a key market with significant potential, Rubique had earlier begun its operations in Mumbai, followed by Pune. The successful expansion in those cities can be attributed to the growing number of small-scale entrepreneurs who are always seeking new and convenient ways to access finance. The recent move to Nagpur, Nashik and Aurangabad is in line with its strategic roadmap to cater to the areas with a high concentration of small-scale entrepreneurs looking for convenient financing options. Rubique’s varied product catalogue includes Personal Loans, Home Loans, Car Loans, Loans against Property, Business Loans and Commercial Vehicle Loans and aims to cover a wide range of capital requirements. Through core tech-based approval mechanisms and algorithms, Rubique endeavors to enable a large number of applicants in fulfilling their financial requirements in a short span of time.

Commenting on the Maharashtra expansion, Manav Jeet, MD & CEO – Rubique said, “Maharashtra is the richest state in India owing to its huge number of affluent businessmen and flourishing businesses. There is, on the other hand, an equal number of entrepreneurs waiting to make the most of the opportunity the state offers. However, they often lag behind due to the paucity of reliable and relevant sources of finance. To cater to this demand and help aspiring individuals fulfill their goals, we have identified the state as a key market and have already branched out in a couple of cities with positive responses. We are hoping to disburse a significant portion of our overall INR 2000 crores loan target in these cities by this fiscal year while aiming to foray into other cities of Maharashtra in a strategic manner.”

Rubique has managed to successfully stand out in the fintech space as an innovator par excellence and one of the genuine success stories of the domain through its unique products. Its Online PLUS model - enabling users to get the best deals and having their loan applications processed faster through the latest data science technologies – and Rubot – an AI and decision engine powered bot is aimed at easing the transaction experience – have enabled it to process a huge number of loans in a short span of time. To recognize its path-breaking efforts in revolutionizing the fintech domain, the platform was recently invited by the Abu Dhabi Global Market (ADGM) to be a part of the first batch of its FinTech Regulatory Laboratory (RegLab) program, which further highlights its importance as a major force in the fintech space. Recently, Rubique has also been featured in IDC’s FinTech 101 list for Asia/Pacific and mentioned as one of the 10 fast growing fintechs in India.

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