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Mumbai based financial marketplace for individuals and SMEs Rubique has raised $3m in a bridge round funding from undisclosed investors. The company will be leveraging these funds to make even greater inroads across India by strengthening the technology product through rich data science methodologies as well as exploring new product territories in insurance and mutual funds.
In April last year, the firm had raised $3 million in Series A from Kalaari Capital, YourNest Angel Fund, Globevestor, and Dexter Angel Circle. Commenting on making the funding a discreet affair, Manavjeet Singh, CEO, Rubique, said, “We deferred our Series B round since the company was already generating sufficient revenue worth Rs 2 crore a month for the last six months without huge marketing spends. We feel funding is overrated and instead of looking at it as breaking news or survival fund, we focus on basics like revenue generation, self-sustainability, and acceptability of our model in the ecosystem.”
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