The four-year old fintech start-up is focused on personal loans, business loans and credit cards, now seeks co-lending for ensuring better margins, in comparison to the revenue stream from being a marketplace for lending products.
“Co-lending will be nothing but a private label product for our platform. While we will bring technology, data and distribution for the co-lending, banks are giving us the credit line. With co-lending, we are having skin in the game. Co-lending will also help us cater to segments that are not currently available,” said Jeet.
Jeet who founded the start-up Rubique says that the firm would eventually emerge as a Non-Banking Financial Company (NBFC) .
“We are not looking to become an NBFC from the perspective of building book. We may take the NBFC licence for regulatory reasons. We will eventually move there if we have to do scale up co-lending,” he said.
For offering co-lending, Rubique has so far partnered with two banks and two NBFCs.
Rubique has over 10,000 plus business associates and an assisted online model. It is looking forward to end the current fiscal with loan disbursements over nearly Rs 1, 250 crore, revenue of ₹35 crore and 90,000 credit cards issued.