Rupeek ventures into Coimbatore

Rupeek, one of the fastest growing gold loan brand in the country, on Tuesday said the company expanded its service to the city with the promise of delivering the most transparent and safe gold loans at the doorstep.

After an overwhelming response from seven cities of Bengaluru, Mumbai, Delhi, Chennai, Hyderabad, Ahmedabad and Pune, Rupeek forayed into Coimbatore and aims to be present in 100 cities within the next two years.

Rupeek is backed by ICICI Bank, Karur Vysya Bank, Federal Bank acting as its lending partners further ensuring transparency and safety to the customer base, its founder and CEO Sumit Maniyar said in a press release.

"We are excited about stepping into the Coimbatore market. We help our customers fulfil immediate credit requirements with a 30-minute doorstep gold loan," Maniyar was quoted as saying.

"Apart from adding thousands of satisfied customers to Rupeek's family, we intend to create hundreds of new job opportunities in Coimbatore and aim to create a transparent brand in the gold loan space which is a step towards our mission to put India's idle gold to use," the press release said.

Bengaluru-based Rupeek, a series B funded organisation, is currently disbursing gold loans at an annual rate of over $175 million and growing 20 per cent month on month, it said.