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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.



UNI SW RSA 1355

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Ice Make announces entering into fast growing segments

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Asian Fine Cements introduces country's first vacuum-tight packaging in cement

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Chandigarh, Sep 14 (UNI) Asian Fine Cements Pvt Limited, on Saturday introduced seepage free, environment friendly and corrosion resistant vacuum-tight packaging in its Duraton7X premium cement, a step taken by any company first time in the country in the sector.

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Arome targets to launch 25 stores across South India in next 5 years: Director

14 Sep 2019 | 6:45 PM

Hyderabad, Sep 14 (UNI) Arome, a dry fruits chain store has targeted to launch 25 stores across South India during the next five years, its one of the Director Khushbu Jain said on Saturday.

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Ice Make announces of entering into fast growing segments

14 Sep 2019 | 6:32 PM

Hyderabad, Sep 14 (UNI) Ice Make Refrigeration Limited (Ice Make),a leading supplier of innovative cooling solutions and manufacturer of refrigeration equipment’s, on Saturday announced of entering into new emerging and fast growing segments like online Food Chains, Airport Flight Kitchens, Cash and Carry Vans to leverage its capabilities and basket of innovative products.

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Andhra Bank Board approves merger with Union Bank of India

Andhra Bank Board approves merger with Union Bank of India

14 Sep 2019 | 6:11 PM

Hyderabad, Sep 14 (UNI) The Board of Directors of Andhra Bank has approved for the merger of Andhra Bank and Corporation Bank with Union Bank of India.

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