Ruptok Fintech Private Ltd, a fintech-platform for gold loans, has raised ₹10 crore in an Angel funding round from Canadian investment firm Wurk.

The company will use the funding to fuel up its business and operations in Jaipur and Mumbai by March , and to acquire manpower, the company said in a statement.

“During the pandemic, we have witnessed several people facing liquidity crunch and selling their assets to accomplish their financial needs. Our idea behind launching Ruptok last year was to offer an easy financing options to the customers at the comfort of their doorstep,” Ankur Gupta, Founder and CEO of Ruptok Fintech, said.

Founded in July 2020 by serial entrepreneur Ankur Gupta and Akshita Gupta (Head HR) and Yashwardhan Aeren (Head Product Development), Ruptok provides instant loans against gold jewellery within 30 minutes.

“Indian fintech market has witnessed a tremendous growth trajectory in past few years, especially during pandemic. The global crisis has brought a fundamental shift in consumers’ behaviour and preferring most of the services at their doorstep. At present, the market is attracting a pool of innovative ideas and distinctive solutions to address the core solutions of the consumers by providing the utmost convenience,” Barbara Holding, a Wurk spokesperson, said.