Latest posts by TheStartupMojo (see all)
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Fintech Startups are on the funding spree and especially Startups facilitating the process of loan through a bank or by itself. Mumbai based Loan Tap raised 4 Mn Series B funding. The round was a mix of equity and debt instruments from Kae Capital, India Quotient, IFMR, and MAS Financial Services Ltd.
As per the press statement by the company, “equity infusion to the platform was majorly led by Kae Capital along with participation from its existing set of VC and Syndicates including India Quotient. While, the debt was raised from NBFCs such as IFMR and MAS Financial Services Ltd.
Speaking at the occasion Madhukar Sinha, co-founder at India Quotient said “We saw strong demand reflecting in the growth since our last round of investment and we believe that innovative personal loan products from LoanTap would serve a large segment not served by traditional banks”,
Recently one of the other FinTech Startup and rival Money Tap raised a whopping $12.3 million. Both the Startups target the salaried professional who get a run around from the bank or the associates to get the loan approved and dispersed.