Published: 11/13/2020

Good morning and happy Choti Diwali! In the news today, we have PUBG planning its return to India and gold loan startup Rupeek in talks to raise a new growth round.

  • https://tcrn.ch/3pp7HRj: PUBG announces its plan to return to India
  • ➡️ South Korean gaming firm PUBG announces its plans to return to the Indian market. The company's popular smartphone game was banned by the country as it was being distributed by Tencent Games (Tencent is a Chinese internet conglomerate)

    ➡️ The company is releasing a brand new game in the country- PUBG Mobile India but did not share when it plans to release the title. Prior to the ban, the game had amassed over 50M monthly active gamers in the country and was the most popular mobile game in the country.

    ➡️ The company also plans to invest $100M in the country to promote and cultivate the local gaming & eSports industries in the ecosystem and is likely to hire over 100 employees in the coming future.

    ➡️ It's worth noticing that despite the ban, the app was still accessible to users up until the end of October (when Tencent Games terminated its services in the country), and is technically still playable for some number of users. But, the game's official return in the region will certainly make people very happy as there really hasn't been any other game that has been able to quite capture people's attentions.

    2. https://bit.ly/2ItwPp0: Rupeek is in talks to raise $100M

    ➡️ The popular gold loan startup Rupeek is reportedly in talks with a couple growth stage investors to raise up to $100M. One of the possible new investors in the company is Lee Fixel's fund Addition, which previously led Inshorts' last round a couple months ago.

    ➡️ It seems like the interest is inbound as Rupeek had previously raised $30M from Binny Bansal, GGV and KB Investments and the current round could value the company over $550M.

    ➡️ Rupeek is presently disbursing Rs 350 Cr in loans ever month and has partnered with Karur Vysya Bank and Federal Bank. The company largely competes with legacy finance companies like Muthoot Finance and Manappuram Finance, which are responsible for 70% of the gold loans in the country.

    ➡️ The company hasn't really faced too much digital competition until recently when indiagold (started by ex-Paytm exec Deepak Abbot & Nitin Mishra) was launched this year. This year has brought a significant amount of financial stress (due to COVID) and coupled with an increase in gold prices, it makes sense why companies like Rupeek are thriving and attracting venture dollars.

    Feedback & ❤️ always appreciated BONUS (Tweet of the day): https://twitter.com/refsrc/status/1326768114244194308

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