Harsha Shakthi N V
Founder
Oro
Oro is a platform that provides gold-backed loans, allowing users to leverage idle gold assets for business, medical, or educational expenses with interest rates starting at 0.79% per month. Additionally, Oro offers secure locker services in Chennai, featuring larger-than-average lockers and free jewelry testing, ensuring convenient access and protection for valuable items.
- Financial Technology
Updated 23 months ago
Funding
Raised to date
$12.6MRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Funding rounds are not available yet.
Founders
Product
Problem
Individuals often struggle to access funds for business, medical, or educational needs without liquidating their gold assets. Traditional bank lockers offer limited accessibility and can involve long wait times, making it inconvenient to store and retrieve valuables.
Solution
Oro provides gold-backed loans, enabling customers to leverage their idle gold for various financial needs with competitive interest rates. Oro Money offers instant gold loans disbursed by Federal Bank, with secure storage in bank lockers insured by New India Assurance. Oro Safe offers secure locker services with extended operating hours, digital access for booking visits and payments, and unlimited access, eliminating queues. Customers can choose between storing gold at Oro Safe Centers or using the Oro Safe at Home service, where a portable Godrej locker is delivered to their doorstep for secure storage and later transported to the Oro Safe Centre.
Target Audience
Oro's services target individuals seeking accessible and convenient gold-backed loans and secure storage solutions for their valuables, including those who require funds for business, medical, or educational expenses and those looking for alternatives to traditional bank lockers.
Features
- Instant gold loans with interest rates starting at 0.79% per month.
- Highest per gram gold rate valuation.
- Secure gold storage in Federal Bank lockers, insured by New India Assurance.
- Oro Money mobile app for loan management, scheduling appointments, and requesting jewelry release.
- Oro Safe locker services with extended operating hours (9 AM to 9 PM, 365 days a year).
- Digital locker booking and management through orosafe.in.
- Oro Safe at Home service with portable Godrej lockers delivered to the customer's doorstep.
- State-of-the-art security measures at Oro Safe Centers, including Godrej Secunex lockers and RBI-compliant strongrooms.
- Free gold valuation services.