LoanTap raises Rs 43 crore, equity funding round led by Shunwei Capital

BENGALURU: Digital lending company LoanTap has raised $6.25 million (Rs 42.83 crore) in an equity funding round led by Beijing-based venture capital firm Shunwei Capital.

The round also saw the participation of Mumbai-based private investment firm Tuscan Ventures and Ashish Goenka, owner of Suashish Diamonds who invested in his personal capacity. Existing investors India Quotient and Kae Capital also participated.

“Our plan is to leverage the Rs 40 crore that we have raised by four to five times to source around Rs 200 crore from lending institutions, which will be used to lend out to more consumers,” said cofounder Satyam Kumar.


The Pune-based fintech startup is an online NBFC and lends from its own books. The company has so far disbursed ?100 crore to more than 5,000 customers, mainly for their personal requirements like travel and wedding expenses.

LoanTap has been operational for 17 months. It caters mainly to salaried professionals who work in information technology companies and counts 35% of its customers from Bengaluru.

“We lend up to Rs 10 lakh with an average of Rs 3 lakh for an average period of around 48 months. We have managed to retain the nonperforming asset level to less than 0.35% as of our March balance sheet,” said Kumar.