 "Digital lending startup LoanTap raises Rs 24 crore in venture debt")
LoanTap Financial Technologies Pvt Ltd (LFTPL), which operates digital lending start-up LoanTap has raised Rs 24 crore in venture debt led by global investment firm Lighthouse Canton 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 digital lending platform, LTFLoW.
LoanTap offers end-to-end lending through its LTFLoW platform for sourcing, delivery, and asset management, which the company says, has been adopted by over 30 e-commerce sourcing partners.
LFTPL says it has facilitated loans worth Rs 1,700 crore for its subsidiaries and technology clients. The firm has two RBI-registered NBFCs 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.
“Solutions offered by their LTFLoW platform have been helping MSMEs and retail customers to avail loans. The platform is gradually modernising lending processes and we are looking forward to supporting the company's growth objectives through our venture debt strategy,” said Ankit Agrawal, Director of Venture Debt at Lighthouse Canton.
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