BIIA Member Rubix Data Sciences, a technology and analytics-based B2B Risk Management and Monitoring platform, has raised US$ 825,000 in its second round of funding. The round saw participation from institutional investor Cactus Venture Partners, family offices and high net worth individuals (HNIs).
The funds raised in the current round will be invested in enhancing the technology and analytics capabilities of the Rubix Automated Risk Management and Monitoring System (ARMS) platform.
Rubix was launched in 2018 by experienced risk professionals. The Rubix platform and its suite of Risk Scores, reports, products, and services are based on its extensive database of structured and unstructured data aggregated from over 120+ sources, customized predictive analytics and proprietary technology.
Mohan Ramaswamy, Co-Founder & CEO of Rubix Data Sciences, said, “As Covid-19 impacts the global economy, it has also enhanced the credit and fraud risk faced by businesses worldwide. This volatile environment has created new challenges for businesses in assessing and monitoring the financial risk of customers, distributors, dealers, suppliers and other third parties in India and overseas. Businesses are currently facing higher than normal financial risk from their third-party relationships and need to address this immediately. Our aim is to enhance our proprietary technology and analytics platform that delivers deliver risk assessment, scoring and monitoring services to our clients.”
Rubix has over 200 customers from the banking, credit insurance and corporate sectors. These customers use the Rubix Automated Risk Management & Monitoring System (ARMS) Platform to take prudent Credit, Supplier and Compliance Risk decisions about their counterparties in India and overseas.
About Rubix Data Sciences
Rubix Data Sciences Pvt. Ltd. helps you to take prudent credit risks, build a robust supply chain and monitor compliance for your business partners in India and around the world. Set up by highly experienced Risk Professionals who have worked extensively in the credit, legal and supply chain information domains, Rubix has been recognized as part of the ‘Start-up India’ scheme by the Department of Industrial Policy & Promotion (DIPP), Government of India, in 2018. The Rubix platform and its suite of reports, products and services are based on its extensive database of structured and unstructured data aggregated from over 120+ sources, customized predictive analytics and proprietary technology. Through its solutions, Rubix provides deep insights to Credit, Risk, Supply Chain and Compliance professionals, facilitating quicker and more effective decision-making.
Source: Rubix Data Sciences