The ad highlights the struggles faced by people in availing gold loans and how the company solves the credit pain.
Fintech platform Rupeek has unveiled its first integrated advertising campaign featuring actors Manoj Bajpayee and Priyamani that highlights the struggles faced by people in availing gold loans and how the company solves the credit pain.
Made by advertising agency The Womb, the ad spot features both the actors walking into an establishment to apply for a gold loan when they face several issues. Then they are introduced to Rupeek where one can use an app, schedule an appointment at the convenience of their home, get their gold measured and feel safe while availing credit on it.
Shalabh Atray, senior vice president - marketing and digital, Rupeek, said that a large part of the population in the country do not have access to formal credit and there's hardly any technology disruption that has happened to make credit a frictionless experience and create financial inclusion.
"Getting a gold loan is an emotionally and functionally draining experience in India and with the use of technology Rupeek is becoming a disruptor in that market. We are trying to make that experience frictionless for consumers while giving them a source of courage and pride. We believe that Manoj and Priyaramani will drive this message well as they are authentic and have faced a fair share of life struggles which makes them relatable," he said.
Rupeek claims to offer online gold loans to its customers with minimal documentation and lowest interest rate of 0.69% per month. The campaign will be promoted across television, print, outdoor, digital and social media platforms.
“With the majority of India’s population having no access to formal credit, there is a huge potential for asset backed lending such as online gold loans. Gold monetisation is long overdue and because of covid there has been an acceleration towards this direction. We are trying to address the pain points that consumers face whether it is about convenience, safety and discretion they wish to maintain through the process," added Atray.
Founded in 2015, Rupeek is currently present in over 30 cities and has disbursed loans worth ₹5,000 crores with 55% of its customers being first time borrowers. Headquartered in Bangalore, Rupeek's investors include Sequoia Capital, Accel Partners, Bertelsmann, and GGV Capital.
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