Friday, Dec 6 2019 | Time 08:10 Hrs(IST)
  • Eleven Killed, Over 30 Injured in Fire Caused by Gas Blast at Wedding in Iran - Official
  • Trump Says Having 'Very Good' Discussions in China Trade Negotiations
  • IAS transfers in MP
  • At Least 13 People Dead, 50 Injured in Bus Crash in Mexico - Reports
  • Next Hearings in Trump Impeachment Process Scheduled on Monday - House Judiciary Committee
  • Unnao rape survivor with severe burn injuries airlifted to Delhi for treatment
  • MP in wintry grip
  • OPEC+ to Discuss Quotas for Oil Output Cuts on Friday - Novak
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

India: step up reform efforts to increase quality jobs and incomes, says OECD

05 Dec 2019 | 8:33 PM

New Delhi, Dec 5 (UNI) India is set for a modest recovery after a loss of momentum, as reforms to simplify taxation, lighten business regulations and upgrade infrastructure start to bear fruit, according to a survey.

see more..

Pradhan calls for focus on Bio Energy to mitigate air pollution

05 Dec 2019 | 8:02 PM

New Delhi, Dec 5 (UNI) Union Minister for Petroleum and Natural Gas Dharmendra Pradhan participated in the India Gas Infrastructure Conference 2019 organised by FICCI here on Thursday and just like natural gas, Bio energy also possesses huge potential, especially in addressing the rising environmental concerns and providing a solution to the menace of air pollution.

see more..

Shure launches its first software development centre in Hyderabad

05 Dec 2019 | 7:57 PM

Hyderabad, Dec 5 (UNI) Shure Incorporated, a US-based global market leader in microphones and audio electronics, has expanded its presence in India by establishing a new facility in Hyderabad, Telangana.

see more..

PSUs should increase participation in Apprenticeship program: MSME Min

05 Dec 2019 | 7:13 PM

New Delhi, Dec 5 (UNI) Skill Development and Entrepreneurship Minister Mahendra Nath Pandey on Thursday urged Central Public Sector companies to significantly increase their participation in the government’s apprenticeship program at a National Seminar held to spread awareness and participation in Apprenticeship Programme, here.

see more..