Ranjan Pai, Axis Bank may back gold loan startup Rupeek

Manipal Group chairman Ranjan Pai’s investment office Claypond Capital and private sector lender Axis Bank are in talks to invest in gold loan startup Rupeek, according to sources aware of the matter. The round will likely see the valuation of the Accel- and Peak XV Partners-backed firm being cut, they said.

Talks with Axis Bank are in early stages and the new investor consortium is finalising its plans, they said.