LoanTap

lendingonline loans

FOUNDING YEAR: 2016
LOCATION: India
Last Update: 17/07/2020

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About

LoanTap is an online platform committed to deliver flexible loan products to salaried professionals. We innovate in an otherwise dull loan segment, to deliver smart products for millennials. The idea is to use technology for building flexibility in products, without adding cost to it.

MEDICI Analysis

LoanTap is an online platform that provides personal loans for salaried individuals up to 10 lakhs. The company offers various types of consumer loans including EMI-based loans, EMI free loans and personal line of credit. Borrowers can also choose custom-made loan products like overdraft facility, credit card takeover loans, rental security deposit loans, advance salary loans, and consumer durable loans. For payments, the company follows an agency-based collection model and allows professionals to make flexible single and bulk payments in a cost-effective way.

Focus

PRODUCTS & SERVICES

Online loans for salaried professionals.

REVENUE MODEL

Company earns revneue from interest charges.

MAIN CLIENTS

Retail borrowers

Momentum

FUNDED

YES

TOTAL FUNDING

$14.82 M

DATE OF LAST FUNDING

Sep 2019

TOTAL FUNDING COMMENT

The company is planning to use the funds to lend out to more consumers. (July 2018)

FUNDING SERIES

SERIES A  · $2.98 M  · Aug 2016

SERIES B  · $5.59 M  · Sep 2019

OTHERS  · $6.25 M · Jul 2018

LISTED

NO

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