Saturday, May 25 2019 | Time 12:23 Hrs(IST)
  • Congress, despite debacle in LS Polls, is in favor of consolidating tie-up with the JD(S)
  • Three children shot dead in Bulandshahr
  • BJP & NDA lawmakers set to formally elect Modi as Parl party leader
  • MHA alerts Tripura, Assam and W Bengal on Islamic terrorist outfits
  • SC/ST Voters shift their loyalty to Saffron party in LS Election
  • Post result violence in Tripura kills a BJP man and leaves 117 injured: CM warns action
  • Eves power: House of people's to have eight women MPs from Maharashtra
  • Tripura CS removed, 14 IAS and 2 IPS transferred a day after BJP’s victory
  • CWC meet begins, all eyes on Rahul
  • PM Modi to visit Gujarat on Sunday, meet mother
  • Britain set for new PM after May quits, as Brexit impasse remains
  • Five killed in road accident in Meerut
  • Mobile internet remains suspended in Kashmir
  • NATO experts adopt new military strategy over Russian ‘threat’: Stoltenberg
  • Educational institutions remains closed in Kashmir
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.


More News

Chennai Oil Market Rates

25 May 2019 | 11:32 AM

Chennai, May 25 (UNI) Following are the rates in the
Chennai Oil Market here today.

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Bullion Market Opening rates

Bullion Market Opening rates

25 May 2019 | 11:00 AM

Chennai, May 25 (UNI) Following is the bullion markets
opening rate here today.

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Smart Cities India Expo attracts large participation, ends on high note

24 May 2019 | 8:33 PM

New Delhi, May 24 (UNI) The three-day expo, a congregation of innovators and imaginators, academia, policy makers and city administrators, government representatives, business delegates, multinationals ended on Friday.

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Religare Health Insurance, CBRE congratulate BJP-led NDA for LS poll victory

Religare Health Insurance, CBRE congratulate BJP-led NDA for LS poll victory

24 May 2019 | 7:49 PM

New Delhi, May 24 (UNI) Religare Health Insurance and Real estate consulting firm CBRE on Friday congratulated Prime Minister Narendra Modi for NDA's victory in the 2019 Lok Sabha Elections and getting a landslide majority to form the next government at the Centre.

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Auto industry welcomes return of strong and stable govt

Auto industry welcomes return of strong and stable govt

24 May 2019 | 7:48 PM

New Delhi, May 24 (UNI) Auto Industry welcomed the return of a strong and stable government at the Centre.

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