LoanTap Announces Key Promotions & Appointments to Drive Growth and Innovation

LoanTap, a leading digital lending platform, has recently announced a series of strategic appointments and promotions to bolster its team of highly experienced professionals. These strategic moves reflect LoanTap's unwavering commitment to excellence, customer satisfaction, and continued growth in the rapidly evolving financial technology sector.

LoanTap is pleased to announce the appointment of Mr Rajeev Das, formerly the Chief Risk Officer (CRO) of LoanTap, as the Chief Executive Officer (CEO) of i-Loan Credit Private Limited. i-Loan Credit Private Limited is an RBI registered NBFC that focuses on loans for electric two wheelers and green energy. Mr Das brings with him an impressive career spanning over two decades at Standard Chartered Bank, where he successfully managed the bank's substantial SME portfolio. His extensive experience includes overseeing various audits, such as RBI audits, BRR audit, TCF audit, peer audit, and group audit of sales operations in India and abroad. As CEO of i-Loan, Mr Das will leverage his visionary approach to drive the company's strategic vision of green finance and actively promote the adoption of electric two-wheelers. Under his leadership, i-Loan aims to establish electric two-wheelers as the new paradigm, contributing to a greener and more sustainable future.

In addition, Mr Ameet Venkeshwar, a seasoned finance professional with over 16 years of experience, has been promoted from Business Head to the prestigious position of Chief Business Officer (CBO). With a successful track record in aligning businesses for optimal results, Mr Venkeshwar brings invaluable expertise to his new role. His previous role as the Zonal Sales Head for Maharashtra at IndusInd Bank and his experience with Citi Finance further enhance his capabilities. As CBO, Mr Venkeshwar will provide strategic leadership and oversee all aspects of LoanTap's business operations, with a specific focus on Distribution and AfterPay. His appointment is expected to drive efficiency, enhance productivity, and propel the company towards achieving its targets and business performance goals.

LoanTap's Co-Founder and CEO, Mr Satyam Kumar, expressed his thoughts, stating, "We are proud to announce the well-deserved leadership roles assigned to Mr Ameet Venkeshwar and Mr Rajeev Das as they fully understand the DNA of the organization. Their extensive industry experience and exceptional leadership qualities will further drive our growth and innovation. As LoanTap continues to expand and enhance its services, their expertise will be invaluable in our pursuit of providing accessible financial solutions to our customers."

With these strategic appointments and promotions, LoanTap is well-positioned to maintain its successful trajectory. The company has experienced exceptional growth, expanding its distribution and AfterPay network across diverse sectors. Looking ahead, LoanTap remains steadfast in its commitment to making credit more accessible to over 4 lakh merchants through its AfterPay network this year.

About LoanTap

LoanTap is one of the fastest-growing & trusted FinTech companies in the category with its in-house RBI-registered NBFC led by experienced leadership and a highly skilled team. LoanTap focuses on customer delight by helping them choose the best loan products from a portfolio of multiple products like personal loans, business loans, home loans, gold loans, loans against mutual funds plus many use case loans. LoanTap has had a successful year expanding its distribution and AfterPay network in various sectors. Looking towards the future, LoanTap’s goal is to make credit more accessible to over 4 lakh merchants through their AfterPay network this year. LoanTap plans to achieve this goal by utilizing LTFLoW, their innovative LendTech platform. LTFLoW allows to establish a roadmap towards profitable growth while creating a resilient digital lending ecosystem. With its anchor-led distribution stack, marketplace for capital coverage, and in-house NBFC, users of LTFLoW can continue to create innovative products and expand their reach.

Leading Digital Lending Platform LoanTap Partners with BigBasket’s HoReCa to Launch Financing Solutions

Collaboration to provide hassle-free credit options for businesses in the HoReCa industry

LoanTap, a leading digital lending platform, has announced a strategic partnership with Big Basket to introduce financing solutions for buyers from the BigBasket’s HoReCa segment. This collaboration aims to offer a unique and hassle-free experience to businesses in the HoReCa industry, enabling them to access credit quickly and conveniently. 

HoReCa is an acronym for Hotels, Restaurants and Cafes. 

Under this partnership, LoanTap will provide financing options to the customers of Big Basket in the HoReCa segment, with the general credit limit ranging from Rs 25,000 to 10 Lakhs. Customers will have a credit period of 30 days. By using a credit line as a payment method, customers will access 0% interest. This will encourage more customers to use the credit line as a payment method, increasing the number of transactions and thus, increasing market penetration of Big Basket's HoReCa segment.

The partnership between LoanTap and Big Basket's HoReCa segment will offer several benefits to both companies and their customers. LoanTap will be able to cater to small businesses through this arrangement and acquire new customers in the HoReCa market. This will provide LoanTap with an opportunity to create more personalized products to cater to the specific needs of businesses. On the other hand, Big Basket will be able to increase and retain its customer base by offering convenient financing options to its customers.

Commenting on the partnership, Mr Satyam Kumar, CEO & Co-Founder of LoanTap, said, "We are excited to partner with Big Basket's HoReCa segment to launch financing solutions for their customers. This partnership will enable us to reach out to more businesses and create more personalized products to cater to their needs. We are confident that our partnership with Big Basket's will bring benefits to both companies and their customers."

Mr Ashwath Ram, heading BigBasket’s HoReCa Division says, “The HoReCa (Hotel, Restaurant, and Catering) market in India is growing rapidly and has a lot of potential for organized suppliers. Additionally, the pandemic has resulted in an increase in home delivery services, which has further boosted the demand for food suppliers."

Bigbasket’s HoReCa market is expected to witness significant growth in the coming years with the increasing demand for quality food products and services. The food service market is expected to witness significant growth due to factors such as changing consumer behaviour, increasing disposable income, and the growth of tourism.

By partnering with LoanTap, Bigbasket’s HoReCa business customers benefit from having access to credit-based payment with 0% interest. This boosts our potential to tap into a small ticket market and expand the customer base. Additionally, this will help foray into the Cloud kitchen, QSRs, Restaurants and Bakery segments.”

The partnership will open up opportunities for both companies to explore new markets and expand their customer base. The companies will continue to work together to develop innovative solutions that meet the needs of businesses in the HoReCa industry. This partnership marks a significant milestone for both LoanTap and Big Basket's HoReCa segment, as they continue to strengthen their positions in the industry. 

About LoanTap –

LoanTap is one of the fastest-growing & trusted FinTech companies in the category with its in-house RBI-registered NBFC led by experienced leadership and a highly skilled team. LoanTap focuses on customer delight by helping them choose the best loan products from a portfolio of multiple products like personal loans, business loans, home loans, gold loans, loans against mutual funds plus many use case loans.

LoanTap has had a successful year expanding its distribution and Afterpay network in various sectors. Looking towards the future, LoanTap’s goal is to make credit more accessible to over 4 lakh merchants through their Afterpay network this year. LoanTap plan to achieve this goal by utilizing LTFLoW, their innovative Lendtech platform. LTFLoW allows to establish a roadmap towards profitable growth while creating a resilient digital lending ecosystem. With its anchor-led distribution stack, marketplace for capital coverage, and in-house NBFC, users of LTFLoW can continue to create innovative products and expand their reach.

LoanTap Collaborates with udChalo to Provide Quick Financial Aid to Defence Personnel

udChalo and LoanTap's partnership simplifies the loan process for serving army personnel

LoanTap, a leading digital lending platform, has announced a collaboration with udChalo to offer quick and accessible financial aid to defence personnel. As part of this partnership, LoanTap will provide flexible loan options to udChalo's customers, with a seamless digital application process requiring minimum documentation of only KYC and income details. Defence personnel, including new-to-credit customers, can apply for loans, provided they meet the minimum eligibility criteria of being at least 19 years old and having a monthly salary of over Rs. 25,000.

udChalo is a leading consumer technology company catering to the armed forces and their dependents. With the vision of ‘Making life simple for soldiers’, udChalo offers travel, housing, financial services, consumer electronics, and utility bill payment facility for its user base. The collaboration with LoanTap is aimed at extending its services by enabling additional financial support to udChalo's customers during emergencies, allowing them and their families to feel more financially secure.

Satyam Kumar, CEO & Cofounder of LoanTap said, "Through our partnership with udChalo, we are excited to support the financial needs of our defence personnel, who have dedicated their lives to serving our country. Our platform's digital and hassle-free loan application process, coupled with flexible loan options, aims to provide financial aid to defence personnel quickly and efficiently. We are honoured to work with udChalo towards our shared goal of making life simpler for our soldiers.”

Commenting on this partnership, Mr. Ravi Kumar, Founder and CEO udChalo said, " udChalo was conceived to serve our soldiers and in our mission to simplify their lives we have been continually introducing more products and services that can support and uplift their daily course. Our collaboration with LoanTap is another step in this direction that allows us to provide easier access to credit to our servicemen. We are certain it will ease their financial woes by providing needful assistance without going through tedious procedures or extra fees.”

By working extensively for the army fraternity udChalo, over the years has created a unique and loyal customer base from the Indian armed forces and dependents of ‘Fauji Family who prefer its services for their requirements. It was one of the leading start-ups honoured with the national start-up Award 2021 and ranked 4th at the Economic Times ET Rise awards among India’s Fastest Growing MSME 2021

LoanTap's seamless digital loan application process and flexible loan options with lower interest rates and processing fees make it an attractive choice for defence personnel in need of quick financial aid. The collaboration with udChalo is expected to bring further benefits to defence personnel and their families, helping them achieve their financial goals with ease.

About LoanTap

LoanTap is one of the fastest-growing & trusted FinTech companies in the category with its in-house RBI-registered NBFC led by experienced leadership and a highly skilled team. LoanTap focuses on customer delight by helping them choose the best loan products from a portfolio of multiple products like personal loans, business loans, home loans, gold loans, loans against mutual funds plus many use-case loans.

LoanTap has had a successful year expanding its distribution and Afterpay network in various sectors. Looking towards the future, LoanTap’s goal is to make credit more accessible to over 4 lakh merchants through their Afterpay network this year. LoanTap plan to achieve this goal by utilizing LTFLoW, their innovative Lendtech platform. LTFLoW allows to establishment a roadmap towards profitable growth while creating a resilient digital lending ecosystem. With its anchor-led distribution stack, a marketplace for capital coverage, and in-house NBFC, users of LTFLoW can continue to create innovative products and expand their reach.

Website Link - https://loantap.in/

Digital Lending Pioneer LoanTap Acquires Unofin to Expand Reach in the Healthcare Industry

LoanTap Acquires Unofin to Provide Specialized Financing Solutions for Healthcare Needs

LoanTap, a leading digital lending platform, has announced its acquisition of Unofin, a healthcare-focused fintech startup, to expand its presence in the healthcare finance space. The acquisition is part of LoanTap's strategic plan to provide affordable financing options for healthcare needs.

India's healthcare market is estimated to be worth $130-140 billion, with more than $64 billion in the in-patient market. However, 65-70% of the middle class in India does not have healthcare insurance, and most of the remaining 30-35% are underinsured. The average cost of treatment is around INR 6-10 lakh, but more than 99% of claims paid are less than INR 3 lakh. Given the low insurance penetration and coverage, the total addressable healthcare financing market in India is over $11 billion.

With this acquisition, LoanTap aims to leverage Unofin's expertise in healthcare financing to expand its reach in the rapidly growing healthcare sector in India. Unofin has built a significant competitive advantage by using technology to reach out to customers and clinics. They have serviced over 12,000 customers with INR 120 crore of gross loan disbursals so far Unofin's partnership with 1600 healthcare service providers in 7 cities makes it a key player in the healthcare financing industry. LoanTap was already in the healthcare finance segment, and this acquisition will enable the company to gain better domain understanding and serve a much larger crowd in the healthcare segment.

Satyam Kumar, CEO and co-founder of LoanTap, said, "We are excited to welcome Unofin to the LoanTap family. This acquisition is a strategic move for us to expand our product offerings and tap into the immense potential of the healthcare sector. We believe that healthcare financing is a niche segment with tremendous growth potential. Unofin's deep understanding of the industry will help us create innovative solutions that cater to the unique needs of healthcare professionals and institutions. Both Soumya and Tushar are amazing leaders and have built a strong team and a great tech stack."

The acquisition will also enable LoanTap to leverage Unofin's strong relationships with leading hospitals, clinics, and medical equipment suppliers to offer customized financing solutions to these entities. LoanTap plans to introduce a range of products such as equipment financing, working capital loans, and term loans to healthcare professionals and institutions.

Tushar Aggarwal, Co-founder, and CEO of Unofin, said, "We are confident that being a part of LoanTap will create a powerful synergy of technology platform and domain expertise in healthcare financing. We have a physical distribution network of over 1600 healthcare service providers in 7 cities combined, but now with LoanTap's digital capabilities, we will be able to reach a much larger customer base and provide them with seamless access to credit. Together, we will be able to offer customized financial solutions to healthcare professionals and institutions that will help them to grow and expand their operations."

About LoanTap

LoanTap is one of the fastest-growing and most trusted FinTech5 companies in the category with its in-house RBI-registered NBFC. LoanTap focuses on customer delight by helping them choose the best loan products led by experienced leadership and a highly talented team.

LoanTap offers AfterPay Kirana Kredit (B2B) for lenders, anchors, and merchants (Retailers). It brings convenience to retailers as they benefit from the Buy Now Pay Later facility. It is beneficial for merchants as they can up-sell and build a good customer base, enabling them to better manage cash flows, and lenders benefit from the short-term credit offered, also ensuring a better-quality portfolio.

Website Link - https://loantap.in/

LoanTap Group Raises Rs.24 Cr in Venture Debt Funding Led by Lighthouse Canton

Out of the total investment, INR 15 Cr was by Lighthouse Canton

Global investment institution Lighthouse Canton led the venture debt funding round of INR 24 Cr in LoanTap through its venture debt fund, a Category – II Alternative Investment Fund (AIF). As part of the funding, LoanTap has received one of the first cheques for its unique digital lending platform, LTFLoW. Lighthouse Canton’s total share in this round amounts to INR 15 Cr, among other investors.

LoanTap Founders

The AIF is part of Lighthouse Canton’s Southeast Asia & India venture debt strategy. The AIF has a capacity of INR 550 crores and a Greenshoe option of additional INR 550 crores, and it successfully reached a first close of INR 155.4 crores earlier this year. Through the AIF, Lighthouse Canton provides debt capital to technology-enabled start-ups across India.

LoanTap Financial Technologies (LFTPL) offers end-to-end lending through LTFLoW for sourcing, delivery, and asset management. This AI-driven technology platform has been adopted by over 30 e-commerce sourcing partners. It has 10+ LTFLoW clients, including some of India's major banks, Non-Banking Financial Companies (NBFCs), payment platforms, and ERP solution providers catering to roughly 2 million micro, small, and medium-sized enterprises (MSMEs). LFTPL has facilitated loans worth INR 1700 crores for its subsidiaries and technology clients. They have two RBI-registered NBFCs subsidiaries that offer tech-driven credit solutions to salaried professionals and MSMEs in the personal finance, supply chain invoice financing, and electric two-wheeler (e-2W) categories.

Based in Pune, LoanTap was founded by seasoned professionals Mr Satyam Kumar and Mr Vikas Kumar, with over 23 years of experience in banking and technology, respectively. Renowned equity funds, including Kae Capital, India Quotient, Avaana capital, 3one4 capital, Shunwei capital, and Tuscan ventures, are backing LoanTap. It is supported by debt facilities from nearly 20 lenders. Additionally, it has its debt issuance programme where the instruments like NCDs and CPs are regularly subscribed by nearly 300+ HNIs and family offices in India.

Satyam Kumar, Co-founder and CEO at LoanTap, said, "It’s our pleasure to have Lighthouse Canton on board in our growth journey, and excited for the passion resonated by Ankit Agrawal and Sanket Sinha in the potential of LTFLoW platform in delivering the digital credit solutions in India."

Ankit Agrawal, Director of Venture Debt at Lighthouse Canton, said, “We are excited to be a part of the debt round in LoanTap. Solutions offered by their LTFLoW platform have been helping MSMEs and retail customers to avail loans. The platform is gradually modernizing lending processes and we are looking forward to supporting the company's growth objectives through our venture debt strategy.”

Lighthouse Canton, headquartered in Singapore, is a global investment institution with wealth and asset management capabilities. The venture debt strategy comprises a Singapore based Variable Capital Company (VCC) for investments in Southeast Asia, and a Category II AIF for investments in India. The strategy has seen active participation from onshore and offshore institutions and family offices, and is the second strategy that it has launched which focuses on the venture ecosystem.

It had earlier launched a partnership to invest in venture equity in the Indian startup ecosystem, and successfully closed a US$40m fund to invest in 27 pre-series A and series A companies across various sectors.

About LoanTap

LoanTap offers innovative loans to help millennials achieve a life that they desire. They differentiate in the otherwise cluttered Personal Loan segment and deliver fastest Personal Loans at customer friendly terms. LoanTap has in-house RBI registered NBFC. Our focus is to delight our customers by helping them choose the best loan products.

About Lighthouse Canton

Headquartered in Singapore, Lighthouse Canton is a global investment institution with wealth and asset management capabilities. We employ over 100 experienced professionals across our offices in Singapore, Dubai and India and oversee over 3 billion US dollars worth of assets under management and advisory (as of 30th September, 2022).

Lighthouse Canton creates value through innovative investment solutions for accredited private clients, institutional investors and an ecosystem of founders and entrepreneurs globally. Our Asset Management service comprises strong product capabilities across private and public markets. We run diversified strategies such as private equity in real estate, direct lending, venture equity, venture debt, public equities, and global macros.

Our Wealth management service caters to corporates, ultra-high net worth individuals, family offices, founders and entrepreneurs, to help with their personal and business investment needs with tailored investment advisory, portfolio management, treasury, business & family office solutions.

Lighthouse Canton Pte Ltd is regulated by the Monetary Authority of Singapore (“MAS”) and is an Exempt Reporting Advisor (“ERA”) in the United States. Lighthouse Canton Capital (DIFC) Pte Ltd in Dubai is regulated by the Dubai Financial Services Authority (“DFSA”). LC Capital India Pte Ltd is registered with the Association of Mutual Funds in India (AMFI).

For more information, please visit our website or write to us on info@lighthouse-canton.com

LoanTap Launches the First Electric Two Wheeler Marketplace in India

LoanTap, one of India’s leading fintech lenders announced the launch of India’s biggest electric two-wheeler online marketplace. With the presence of India’s top brands and over 1000 dealers in one place, customers will have a wide range of options to choose from. They can check out the features and pick the bike of their choice without worrying about funds. In the future, LoanTap aims to provide seamless online E2W ( Electric two-wheeler) loan processing on the marketplace itself.

The E2W Marketplace aims to be the one-stop solution for enhancing clean mobility at affordable repayment options. LoanTap will bring a range of e-bikes from the best of brands alongside EMI offers that will make the purchase of an electric vehicle pocket friendly. Now, anyone will be able to buy the electric two-wheeler of their choice with loans up to 80-100% of the e-bike value and pay in easy EMIs across a tenure as long as 36 months. LoanTap’s electric two-wheeler loan helps fund e-bikes in the range of INR 20,000 to INR 2,00,000 at a minimum income of Rs. 10,000 only.

Speaking on this momentous occasion, Mr Satyam Kumar, CEO & co-founder – LoanTap said, “The hike in petrol and diesel prices is skyrocketing every day and is definitely pulling at the purse strings of the average day-to-day commuter in India. Another aspect is the ecological and environment-friendly reason for switching over to something that is good for us and our earth in the long run. Making electric vehicles a convenient option for all is our ultimate goal and we do it by introducing the first-of-its-kind E2W Marketplace. We as the country’s leading FinTech NBFC are on a mission to help millennials make their dreams come true. LoanTap understands the needs of millennials, and their aspirations and on this path of economic and environmental revolution, LoanTap aims to make the journey flexible, convenient and affordable for all its customers. What better way than to bring it all in one place, on one platform that will help in making a sound decision.”

LoanTap makes E2W loan approvals and disbursals easy and within 24 hours. The process is fairly simple to avail of collateral-free e-bike loans, repayments are easy over 6 to 36 months and are done on a flat processing fee. Anyone with a minimum income of Rs.10,000 and above 21 years of age is eligible to apply.

LoanTap offers innovative loans to help millennials achieve the life that they desire. We differentiate in otherwise cluttered Personal Loan segment and deliver fastest Personal Loans at customer friendly terms. LoanTap has in-house RBI registered NBFC. Our focus is to delight our customers by helping them choose best loan products. We boast of an experienced leadership and highly talented team, making us one of the fastest growing & trusted FinTech company in the category.

Online Lending Startup LoanTap Raises Over $8 Mn from 3one4 Capital, Others

Mumbai-based LoanTap, an online platform that offers flexible loan products to salaried professionals, has raised over $8 million in a funding round led by 3one4 Capital, an early-stage venture capital fund based out of Bangalore, reported Financial Express.

The funds raised is a combination of equity and debt instruments, between October to December 2018. Existing investors including Shunwei Capital, Kae Capital, India Quotient, Tuscan Venture and angel investor Ashish Goenka also participated in the round.

LoanTap was started in 2016 by Satyam Kumar and Vikas Kumar, LoanTap claimed to have turned profitable within the first five quarters of operation even as its loan book is growing at 12% monthly.

To date, the startup has raised a total of about $21 million in funding over four rounds including the latest one. In August 2016, the startup had raised $3 Mn in a Series A investment round led by Mumbai-based HNIs including Abhishek Pandey and Jaysukh Sapra.

LoanTap competes with likes of Capital Float, Lendingkart, and InCred.

“3one4 Capital brings in a unique blend of expertise in core tech investing and a deep sectoral understanding along with an immense network that includes its marquee LPs,” said LoanTap CEO Satyam Kumar.

"By giving their customers more choice, better information, reduced complexity, and allowing for personalization, the LoanTap team has demonstrated a true understanding of the elements that go into building an institutional presence in their space,” said Pranav Pai, Founding Partner of 3one4 Capital.

3one4 Capital, which also counts P2P lending firm Faircent as its investee startup, has invested in startups like investments include Tracxn, Licious, DarwinBox, BetterPlace, Tonetag, Tripoto and Bugworks.

In October, Delhi based instant lending startup RevFin had raised an undisclosed amount of seed funding from a group of angel investors including Harash Jain (CEO, Litejoy International, and UK based businessperson), Anil K Goyal (Founder, Anil K Goyal, and Associates), Anil Lanba (Senior Technology Executive, EVP Pyramid Consulting) and Krishan B Singh (Investor based in New York).

In the same month, Bangalore-based NIRA, a consumer finance fintech venture focused on financial inclusion, had raised $1 million seed funding from angel investors in the UK and India.

Prior to this, Mumbai headquartered micro-lending platform Upwards raised $5 million in series A financing round led by China's ShunWei Capital.

[Top Image - LoanTap Team | Credit - YourStory.com]

LoanTap Raises $3M from Mumbai Based HNI's Abhishek Pandey and Jaysukh Sapra

LoanTap, a one-of-its-kind fintech with an in-house NBFC platform delivering flexible EMI-free loan and Overdraft products to salaried professionals, has announced securing funds worth $3 Mn in a Series A investment round. LoanTap will be leveraging the raised capital to expand its operations in NCR, Mumbai Metropolitan Region, Pune and Bangalore. Nearly 85% of the funding, which was led by Mumbai-based HNIs, will be used for onward lending by the platform, while a part of the remaining capital will also be used to augment its technology and distribution frameworks.

Commenting on the capital raised, Satyam Kumar, CEO of LoanTap, said, “Our platform was established for the millennials, keeping in mind the otherwise risk-averse low-salaried loan segment. The Series A investment is a strong validation of LoanTap’s robust business model and experienced promoters having a proven track record in technology, retail-asset underwriting and business scale-up. Instead of burning the entire capital on technology upgrades and distribution, we will chiefly utilize the money for creating end-user specific products and delivering it directly to retail customers. The funding will also enable us to grow in the loan market owing to our simple processes and product relevance.”

Headquartered in Mumbai with the Back Office in Pune, LoanTap follows an agency-based collection model catering to the low-delinquency salaried segment with a job experience of merely 2-5 years in its first phase. The online platform also allows professionals to make flexible single and bulk payments that are convenient and cost-effective.

Currently emphasizing exclusively on the upwardly-mobile salaried professionals, LoanTap envisions penetrating deeper into the salaried segment. It eventually aims to tap into the MSME sector with an average loan size of Rs 6 Lakhs by expanding to the top 10 cities of the country and reaching a book size of INR 750 crores in the next 3 years.

LoanTap is a fintech platform delivering a bouquet of Loan Products to salaried professionals. From the Regular EMI based Loans, to EMI Free Loans to Personal Line of Credit Loan Tap caters to all the requirements of a budding Salaried Professional. Unlike most FinTech Companies it is not an aggregator platform and directly dispenses Loans through its in-house NBFC. It uses technology to deliver smart and innovative products for millennials. Borrowers can choose custom- made loan products from an array of offerings like Overdraft Facility, Credit Card Takeover Loans, Rental Security Deposit Loans, Advance Salary Loans and consumer durable loans. Registered with RBI, it has an in-house NBFC offering unique products and features within the regulatory guidelines, thereby ensuring a fully transparent pricing structure.

Headquartered in Mumbai and operational in Pune as well, LoanTap was incorporated in the first half of 2016 by ex-banking professional Satyam Kumar and former tech professional Vikas Kumar. This online platform in its first phase has ventured into the low delinquency salaried segment that is characterised by a job experience of merely 2-5 years. The company manages to stand out for its speedy disbursement of loans with an average amount of Rs 4 lakhs for 15 days to 5 years. It also makes a pitch for flexible single and bulk payments that are convenient and cost-effective.

The company eventually aims at tapping the MSME sector with an average loan size of Rs 6 Lakhs by expanding in the top 10 cities of the country and reaching a book size of INR 750 crores in the next 3 years.