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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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