India's leading fin-tech company, Rubique, has strengthened its footprint in Maharashtra by initiating operations in Nagpur and Nashik. The company aims to expand its base across the Western region aiming loan disbursal worth Rs. 2,000 crores PAN India by end of this fiscal year.
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 road map to cater to the areas with a high concentration of small-scale entrepreneurs looking for convenient financing options.
"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," said MD and CEO, Rubique, Manav Jeet.
"We are hoping to disburse a significant portion of our overall Rs. 2,000 crores loan target in these cities by this fiscal year while aiming to foray into other cities of Maharashtra in a strategic manner," he added.
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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.