Digital gold loans service provider Rupeek has secured $10 Mn in Series B Round led by existing investors Accel Partners.

Funding rounds led by GGV Capital, Binny Bansal and Bertelsmann India Investments among many has funded and raised the company's valuation to $60 Million. KB Investments, Tanglin Ventures, Sequoia India and Accel partners also had participated in the funding rounds as per the source.

The company aims to use the money from the funding to invest on technologies and gather more customers.

Rupeek seems to serve more than 2,000 locations presently. It is also present in New Delhi, Mumbai, Jaipur, Ahmedabad and Chennai. Hans Tung, managing partner at GGV Capital said that Rupeek is helping the Indian middle class families to get a loan at affordable prices with the help of the gold they saved to invest and use it for emergency cases or for growing their business.The middle class families will get the chance to grow their small business and make a good income out of it.

Founded by Maniyar and Ashwin Soni in 2015, Rupeek aims to bring transparency in the gold loans lending space and monetise India’s idle gold. This will generate liquidity which in turn will increase economic activity, according to the company.

To enable lending, Rupeek has partnered with banks such as the Federal Bank and Karur Vysya Bank. The company claims to offer a 30 minutes doorstep service for gold loans, on-demand pickup and return of the valuables.