LoanTap raises Rs 82 crore in series-B funding round

Digital lending firm LoanTap on Monday raised around Rs 82 crore in series-B funding round, led by Avaana Capital, to enhance its loan portfolio. "LoanTap has raised USD 12 million (around Rs 82 crore) in Series-B led by Avaana Capital. The current round also saw participation from existing investors, 3one4 Capital, India Quotient, Shunwei Capital and Kae Capital," LoanTap said in a statement.

It offers customised personal loans such as rental deposit loan and holiday loan to white-collared salaried professionals. "LoanTap has created a strong technology backbone which offers a superior customer experience. We tripled our loan book last year and the current round of funding will further fuel this growth," LoanTap Chief Executive Officer and co-founder Satyam Kumar said.

The firm claims to have turned profitable within two years of operations. With this round of funding, LoanTap has raised a total of USD 25 million till date. It raised USD 8 million in January 2019, a round led by 3one4 Capital.

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