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Sequoia Backed Rupeek’s Loss Widens By 2X To INR 364 Cr In FY22, Sales Increases To INR 97 Cr

Inc42 LogoInc422w ago

Sequoia Backed Rupeek’s Loss Widens By 2X To INR 364 Cr In FY22, Sales Increases To INR 97 Cr - Inc42

Quick Summary:

Earlier this year, Rupeek raised $34 Mn in funding led by Lightbox, GGV Capital, and Bertelsmann at a valuation of about $630 Mn.

It is prudent to note that Rupeek has spent INR 3.7 to earn a rupee from sales in FY22.

The startup acts as business correspondent to banks and financial institutions (lending partners) and offers gold loans through its own technology to consumers.


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Sequoia Backed Rupeek’s Loss Widens By 2X To INR 364 Cr In FY22, Sales Increases To INR 97 Cr - Inc42 (Picture 1)Sequoia Backed Rupeek’s Loss Widens By 2X To INR 364 Cr In FY22, Sales Increases To INR 97 Cr - Inc42 (Picture 2)

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Article Details

Author / Journalist: Debarghya Sil

Category: Startups

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-24 @ 13:00:36 (2 weeks ago)

News Timezone: GMT +5:00

Ranking: #434 (out of 2503 stories this day)

News Source URL: inc42.com

Language: English

Article Length: 553 words

Reading Time: 4 minutes read

Sentences: 33 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Inc42

News ID: 1910163

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About Inc42

Inc42 Logo

Main Topics: Startups

Official Website: inc42.com

Update Frequency: 17 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 8 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #52

Publisher Details

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The story "Sequoia Backed Rupeek’s Loss Widens By 2X To INR 364 Cr In FY22, Sales Increases To INR 97 Cr" was covered 2 weeks ago by Inc42, a news publisher based in India.

How trustworthy is 'Inc42' news outlet?

Inc42 is a fully independent (privately-owned) news outlet established in 1975 that covers mostly startups news.

The outlet is headquartered in India and publishes an average of 17 news stories per day.

It's most recent story was published 8 hours ago.

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  • URL: https://beamstart.com/news/sequoia-backed-rupeeks-loss-widens-16692950944118

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