Biography of Sumit Maniyar: Founder and CEO of Rupeek -Entrepreneur
Journey of Sumit Maniyar:
A Promising Start from IIT Bombay
Sumit Maniyar began his academic journey at the prestigious
Indian Institute of Technology, Bombay, where he studied Chemical Engineering.
During his time at IIT, he was actively involved in campus activities, notably
as part of the Institute Placement Team. This foundation not only sharpened his
technical skills but also gave him early exposure to leadership and team
dynamics.
A Strong Financial Foundation
After graduating, Sumit pursued the CFA Program and
successfully cleared Level III, showcasing his deep interest and capabilities
in finance and investment. This combination of engineering and financial
expertise would later form the backbone of his entrepreneurial journey.
Exploring Equity Research
Sumit's professional career kicked off in the financial
sector, where he worked as an Equity Research Analyst with Religare in Mumbai.
During his two-year stint, he specialized in analyzing the Indian power and
coal sectors, covering major companies like Adani Power, Jindal Steel &
Power, and Lanco Infratech. This role deepened his understanding of India's
economic landscape.
Venturing into Family Business
After gaining valuable experience in finance, Sumit stepped
into the role of Managing Director at Maniyar Seeds Pvt. Ltd. Here, he
successfully led the company through backward integration by adding in-house
production and processes. This role further sharpened his operational and
strategic planning skills.
Embracing the Startup Ecosystem
Driven by a passion for innovation, Sumit co-founded
Function Space, an online education platform focused on math and science
learning. This venture, though short-lived, introduced him to the world of
tech-based startups and built his belief in digital transformation.
Founding Rupeek – A Vision for Credit Access
In 2015, Sumit founded Rupeek with a bold vision: to
democratize access to credit in India. Understanding that millions of Indians
lacked fair and secure loan options, especially in underserved areas, Sumit set
out to create a transparent, efficient, and user-friendly platform for gold
loans.
A Fintech Revolution in Gold Loans
Rupeek pioneered an innovative model that allowed users to
get low-interest gold loans from the comfort of their homes. With a simple
four-step process, customers could apply for loans online, with their gold
picked up, valued, and safely stored—all without stepping outside. This
innovation reshaped how Indians perceived gold loans.
Fairness and Transparency at the Core
What set Rupeek apart was its commitment to fairness. The
platform offered zero processing fees, low interest rates, high loan-to-value
ratios, and complete transparency. Customers appreciated having full control
over their loans, with no hidden charges—a fresh approach in a traditionally
opaque industry.
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Hybrid Branch Model for Lower Costs
Rupeek introduced a hybrid branch model, collaborating with
trusted banks to store customer gold securely. By avoiding the costs of
building and maintaining their own branches, Rupeek reduced overhead expenses
and passed on these savings to customers in the form of lower interest rates.
Excellence in Technology and Safety
Safety was a top priority for Sumit and his team. Rupeek
processed nearly three tonnes of gold every month without any safety incidents.
Gold was stored in partner bank vaults, and each customer enjoyed free
door-to-door insurance—powered by Rupeek’s strong logistics and technology
framework.
Monetizing India’s $2 Trillion Gold Reserve
India holds a massive untapped gold reserve worth over $2
trillion. Sumit envisioned Rupeek as the platform to help Indians unlock the
potential of their idle gold. The company became the country’s leading digital
platform for asset-backed lending, blending finance, tech, and trust.
Building with Strong Investment Support
Rupeek’s growth attracted several major investors, including
Sequoia Capital, Accel Partners, Bertelsmann, and GGV Capital. These
partnerships not only validated Rupeek’s model but also fueled its expansion
into more than 60 cities across India, reaching over 500,000 customers.
A Platform “Made & Loved in India”
With its roots firmly planted in Indian soil, Rupeek prides
itself on being a homegrown solution to a deeply Indian problem. It’s not just
a gold loan company—it’s a movement to make credit accessible, fair, and
empowering for every Indian household.
Leading the Change, One Step at a Time
Today, Sumit Maniyar continues to lead Rupeek as its Founder
and CEO. Under his leadership, Rupeek is redefining digital lending in India,
enabling millions to tap into their gold assets safely, quickly, and
economically. From a seed of an idea to a national presence, Sumit’s journey is
an inspiring tale of vision, grit, and innovation.
A timeline of Sumit Maniyar’s journey:
2004–2008: Studied Chemical Engineering at IIT Bombay; part
of Placement Team
Post-2008: Cleared CFA Level III; developed strong finance
foundation
2008–2010: Equity Research Analyst at Religare; focused on
power & coal sectors
2010–2013: Managing Director at Maniyar Seeds; led backward
integration
2013–2014: Co-founded Function Space, an edtech startup
2015: Founded Rupeek to provide accessible gold loans
2016: Launched home-based gold loan services with
tech-enabled process
2017: Introduced hybrid branch model with partner banks
2018: Ensured gold safety with door-to-door insurance;
scaled logistics
2019: Positioned Rupeek to unlock India’s $2T gold reserve
2020: Backed by Sequoia, Accel, Bertelsmann, and GGV; rapid
city expansion
2023: Rupeek active in 60+ cities; served 500,000+ customers
Present: Leading Rupeek as CEO; redefining digital gold
lending in India
