Rubique, a Mumbai-based online marketplace for financial products, has appointed Manish Ahuja, the former India finance head of UK-based credit rating bureau Experian, as its new chief financial officer.
Ahuja will manage Rubique’s overall financial control and reporting along with aiding in strategic planning, forecasting and legal, the company said in a press statement.
While Ahuja most recently served as the India CFO at Experian, he has also previously worked with Quikr India as its head of finance and legal. He has also served stints at Ocwen Financial Corporation, JPMorgan Chase and ICICI Bank in the past.
A chartered accountant from Institute of Chartered Accountants of India, Ahuja has completed his Diploma in Insurance from ICFAI and CAIIB from Indian Institute of Banking & Finance.
“He (Ahuja) joins us at a time when our strategy of building transactional marketplaces focused on large fintech verticals has been strongly validated and our competitive position is getting more dominant every quarter. As we begin our next phase of aggressive market penetration in the consumer segment, Manish’s expertise will guide us towards achieving our goals strategically,” Manav Jeet, managing director and chief executive of Rubique said.
Rubique is a credit facilitator for small and medium-sized enterprises (SMEs) and individuals. In the SME segment, it focuses on loans for commercial vehicles and construction equipment. The retail segment includes home loans, personal loans and two-wheeler loans, among others. The company ventured into general insurance.
Run by Rubique Pvt. Ltd, the startup was founded by Jeet in February 2015.
Rubique claims to have partnered with over 90 financial institutions for over 300 products and facilitated loan disbursement worth Rs 3,000 crore, and generated revenue worth Rs 55 crore.
In April, the company raised an undisclosed amount in a funding round led by Japan's Recruit Group and Russian venture capital firm Emery Capital. Asset management firm Blacksoil and existing investor Kalaari Capital also participated in the round.
In June last year, Rubique had raised $3 million (Rs 19.4 crore) in a bridge round from existing investor Kalaari Capital and Udayan Goyal, managing partner at Apis Partners.
In September 2015, Rubique had secured $3 million in Series A funding led by Kalaari Capital. YourNest Angel Fund, Globevestor and Dexter Angel Circle had also put in money