Total amount raised
$27.3 Millions
Latest funding date
Location
LoanTap has successfully raised funding through multiple rounds, including debt financing, to support its mission of providing flexible loan products to salaried professionals. The platform offers a variety of loan options tailored to meet the diverse needs of its customers.
Keep reading to explore the intricacies of LoanTap's fundraising journey and the investors backing this innovative platform.
What Is LoanTap?
LoanTap, founded in 2016, is an online platform based in Pune, Maharashtra, India. The company is dedicated to providing flexible loan products tailored to the needs of salaried professionals and millennials.
Co-founded by Satyam Kumar and Vikas Kumar, LoanTap leverages technology to offer a variety of loan options, including personal loans, business loans, and special purpose loans. Their innovative approach ensures that customers receive customized loan offerings with quick approval and flexible repayment options.
With a team of 101-250 employees, LoanTap continues to innovate in the loan segment, aiming to deliver smart, consumer-friendly loan products without adding extra costs.
How Much Funding Has LoanTap Raised?
- Series A
- Amount Raised: ₹200M
- Date: August 2016
- Lead Investors: Abhishek Pandey, Jaysukh Sapra
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand LoanTap's product offerings and scale its operations.
- Venture Round
- Amount Raised: ₹100M
- Date: June 2017
- Lead Investors: Kae Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development of new loan products and enhance technology infrastructure.
- Debt Financing
- Amount Raised: Not disclosed
- Date: June 2017
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional liquidity for loan disbursements.
- Venture Round
- Amount Raised: $6.3M
- Date: July 2018
- Lead Investors: Shunwei Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance customer acquisition strategies.
- Series B
- Amount Raised: $8M
- Date: January 2019
- Lead Investors: 3one4 Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series B
- Amount Raised: ₹395M
- Date: September 2019
- Lead Investors: Avaana Capital, AVANA Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand product offerings and enhance technological capabilities.
- Venture Round
- Amount Raised: Not disclosed
- Date: January 2022
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and development initiatives.
- Debt Financing
- Amount Raised: Not disclosed
- Date: March 2022
- Lead Investors: BlackSoil
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional liquidity for loan disbursements.
- Debt Financing
- Amount Raised: ₹240M
- Date: February 2023
- Lead Investors: Lighthouse Canton
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the scaling and expansion of LoanTap's LTFLoW platform.
Total Amount Raised: $16.2M + ₹935M
Current Valuation: Not publicly disclosed
Key Investors
- Lighthouse Canton
- Details: Lighthouse Canton is a global investment firm with over $3 billion in assets under management and advisory. The firm has offices in Singapore, Dubai, and India.
- Investment Focus Areas: Venture debt, equity investments, various sectors.
- Notable Investments: Not publicly disclosed.
- Kae Capital
- Details: Kae Capital is a venture capital firm that invests in early-stage companies. They focus on technology and consumer sectors.
- Investment Focus Areas: Early-stage technology, consumer companies.
- Notable Investments: Not publicly disclosed.
- India Quotient
- Details: India Quotient is a venture capital firm focusing on early-stage investments in India. They support innovative startups in various sectors.
- Investment Focus Areas: Early-stage technology, consumer companies in India.
- Notable Investments: Not publicly disclosed.
- Avaana Capital
- Details: Avaana Capital is a venture capital firm that invests in growth-stage companies. They emphasize sustainability and impact in their investments.
- Investment Focus Areas: Growth-stage companies, sustainability, impact.
- Notable Investments: Not publicly disclosed.
- 3one4 Capital
- Details: 3one4 Capital is a venture capital firm that invests in early-stage and growth-stage companies. They focus on technology-driven businesses.
- Investment Focus Areas: Early-stage technology, growth-stage technology companies.
- Notable Investments: Not publicly disclosed.
What's Next for LoanTap?
LoanTap stands at the cusp of significant growth, driven by the expansion of its tech-driven credit solutions for salaried professionals and MSMEs. With the LTFLoW platform already facilitating loans worth Rs 1700 crores, the company is poised to scale further, leveraging its partnerships with over 30 e-commerce sourcing partners.
Future fundraising opportunities appear promising, with potential for additional venture debt or equity funding rounds. The backing from renowned equity funds and the recent Rs 24 crore venture debt round led by Lighthouse Canton underscore investor confidence in LoanTap's growth trajectory.
However, challenges such as competition from other digital lending platforms and regulatory changes could pose hurdles. Maintaining the quality of credit solutions while scaling operations will be crucial for LoanTap's sustained success.
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