Friday, Jul 10 2020 | Time 20:23 Hrs(IST)
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Business Economy

LoanTap raises $8 mln amidst liquidity concern in NBFC sector

LoanTap raises $8 mln amidst liquidity concern in NBFC sector

New Delhi, Jan 18 (UNI) Amid the liquidity concerns in NBFC sector, LoanTap has raised more than 8 million dollars through a combination of equity and debt instruments between October and December, 2018.

Investor 3one4 Capital led fifth round of funding, which saw participation from all existing investors -- Shunwei Capital, Kae Capital, India Quotient, Tuscan Venture and angel investor Ashish Goenka.

LoanTap CEO Satyam Kumar believed that the present liquidity squeeze was temporary in nature and that the industry had weathered many such situations in past, like in 2013 and 2008. However, to sail through churning waters, one needs some all-weather friends. Mr Kumar was happy that MAS Financial Services,

Northern Arc & Vivriti Finance were more than keen to provide continued credit facilities to LoanTap.

LoanTap has pioneered EMI Free Loans, Personal Overdraft, Rental Deposit Loans and Credit Card Takeover Loans that focusses on monthly cash outflow of salaried professionals.

These smart and customised loans match speed and instant consumption patterns of the tech-savvy millennial. Latest technology is utilised for key processing steps like loan application, credit worthiness assessment and disbursal mechanism that helps customer save time in getting faster access to credit.

LoanTap is one of the few start-ups that has become profitable within first five quarters of its operation and its loan book is growing at 12 per cent on monthly basis.


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Ambuja Cement successfully conducts its first -ever virtual AGM

Ambuja Cement successfully conducts its first -ever virtual AGM

10 Jul 2020 | 7:33 PM

Kolkata, Jul 10 (UNI) Ambuja Cements Ltd, one of the leading cement manufacturers in India and part of the Lafarge Holcim group, the global leader in building materials &
solutions, today held its 37th Annual General Meeting (AGM) via video conferencing for the first time.

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Nestlé India introduces MILO® HOMEGROUND

10 Jul 2020 | 6:52 PM

Kolkata, Jul 10 (UNI) MILO® HOMEGROUND brings forth a path-breaking extension of its worldwide legacy of over 86 years of
nourishing young champions by providing nutritious energy and the inspiration to grow with sports.

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Bharat Forge launches Health Risk Monitoring System

Bharat Forge launches Health Risk Monitoring System

10 Jul 2020 | 6:28 PM

Pune, Jul 10 (UNI) Indian multinational company Bharat Forge Limited(BFL), in collaboration with AI start-up Blackstraw, has launched HRMS – an AI based solution that enables companies and institutions to comply with MHA provided guidelines for safe reopening.

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Entransys Joins Qualcomm Smart Cities Accelerator Program to Increase Adoption of Smart City Solutions

10 Jul 2020 | 6:05 PM

- Entransys Brings Innovative AI, IoT and Mobility-based Cloud Platform Solutions to Support Smart Cities
HYDERABAD, India, July 10, 2020 /PRNewswire/ -- Entransys, an AI, IoT and mobility-based smart solutions company, today announced that it has joined the Qualcomm® Smart Cities Accelerator Program to offer its innovative end-to-end solutions like Smart Parking (Parkeze), ITMS, Smart Safety and Security, Smart Agriculture, and Smart Bins for smart, safe and secure cities. Leveraging its cloud-based platforms, Entransys will work with the vast ecosystem of the Qualcomm Smart Cities Accelerator Program and its members to promote widespread adoption of smart parking (Parkeze), Intelligent Transport Management Systems (ITMS), Smart Safety and Security, as well as Smart Agriculture.

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Skill India launches AI-based ASEEM digital platform for skilled workforce across sectors

Skill India launches AI-based ASEEM digital platform for skilled workforce across sectors

10 Jul 2020 | 5:41 PM

New Delhi, Jul 10 (UNI) In an endeavour to improve the information flow and bridge the demand-supply gap in the skilled workforce market, the Ministry of Skill Development and Entrepreneurship (MSDE) on Friday launched 'Aatmanirbhar Skilled Employee Employer Mapping' (ASEEM) portal to help skilled people find sustainable livelihood opportunities.

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