Gold is India’s universal asset with 98.7% of Indian households having an investment in gold. Gold jewellery and ornaments are passed on from generation to generation and hold massive sentimental value for families. On average, an Indian household, holds 100 grams of gold worth $7000, resulting in an estimated $2 trillion worth of gold stored at home or in bank lockers. Being the largest consumer of gold in the world, it is safe to say India has a historic love affair with the yellow metal.

Being highly liquid and universally acceptable, gold forms an easy collateral for credit. As the Indian economy booms and demand for credit rises, we sit upon a uniquely Indian opportunity to collateralise household gold to fuel India’s growth.

As simple as it sounds, this opportunity has been hiding in plain sight for decades. That is until Sumit Maniyar, the founder of Rupeek came across it in 2015.

Rupeek is India’s leading asset-backed, digital lending fintech platform revolutionizing the gold lending industry by digitizing the gold loan experience and providing a comprehensive financial ecosystem designed to monetize gold.

Rupeek’s core offering is to provide gold loans at a customer’s doorstep, eliminating any friction points and destigmatizing the entire process. Once in Rupeek’s ecosystem, customers can access friction-free credit, gold backed credit cards, Buy Now, Pay Later (BNPL) products and even invest based on their household gold. Thus, Rupeek provides simple everyday banking solutions structured around gold and democratises financial inclusion through the Rupeek mobile app.

We are excited to partner with Rupeek in its growth journey and help unlock the true potential of India’s gold.