LoanTap

LoanTap offers unique/flexible credit products such as EMI Free Loan, Personal Overdraft Loan, Advance Salary Loan, Personal Loan, Wedding Loan, and Holiday Loan; the EMI Free option includes interest-only payment every month coupled with bullet payment towards the Principal every 3/6 months.

The platform emphasizes speed and convenience, with a stated capability to process loans within 30 minutes to 6 hours.

EMI-free loans offer 40% lower monthly installments vs. traditional personal loans.

Technology-driven personal lending platform using non-conventional data and innovative underwriting to streamline loan origination and disbursement.

LoanTap is an online platform committed to deliver customized loan products to millennials and salaried professionals.

Loantap Financial Technologies serves millennials, salaried professionals, and self-employed individuals across India; also serves MSMEs and retailers via business/supply-chain financing products.

Loantap pivots to small business loans, leveraging its middleware tech platform to support NBFCs and banks, and now serves small merchants, such as pharmacies, and stationery.

India's Fastest & Most Reliable Personal Loan Platform — loantap.in serves as the primary digital application channel.

LoanTap is available as a mobile application (LoanTap app on the Apple App Store).

Loantap has also built a middleware tech platform that enables banks and NBFCs to originate and manage loans to small businesses.

LCPPL has no branches, and the lending process is entirely digital with majority credit risk underwriting processes — origination, risk assessment, and disbursement — being digitally performed.

Finsome is described as an in-house lead origination and loan management system managing the complete loan lifecycle from application through post-disbursement support, with typical loan disbursement occurring within 24-36 hours.

LCPPL also engages in forms of off-balance sheet funding and securitisation of its loan assets in the form of pass-through certificates and co-lending; the off-book portfolio constituted 32% of its total AUM as of March 31, 2024.

Registered as an NBFC-ND with the RBI, LCPPL is a retail lender providing personal loans to the retail salaried segment through a digital model.

Credit risk models based on data analytics and machine learning will continuously evolve both with time and growth in portfolio.

Satyam Kumar (CEO and co-founder) has over 20 years' experience in mortgage book building, collection, key account management, and underwriting. Vikas Kumar (CTO) has over 20 years of experience in Technology and Online platform and was a former co-founder of Brainvisa Technologies and SME Joinup.

LCPPL's debt profile as on March 31, 2024 stood at ₹191.85 crore, which mainly consists of term loans (71%) from banks/FI followed by NCDs (26%) and remaining (3%) by CP issuances.

Loantap has also built a middleware tech platform that enables banks and NBFCs to originate and manage loans to small businesses, currently used by three financial institutions.

LoanTap's June 2017 Series B round included debt participation from IFMR (debt/NBFC) and MAS Financial Services Ltd (debt/NBFC).

LCPPL is a retail lender providing personal loans to the retail salaried segment through a digital model; the NBFC's total operating income (largely interest income) was ₹62.99 Cr in FY2024.

The capital raised in the Pre-Series C round will facilitate the expansion of its supply chain financing offerings for small retailers, doubling down on invoice financing.

As on March 31, 2024, the weighted average cost of funding for LCPPL stood at 14.24%, compared to 13.61% as of March 31, 2023.

In FY24, the company was able to break even due to a decline in the provisions and write-offs by 79% y-o-y; GNPA (%) based on 90+ DPD increased to 9.08% as on March 31, 2024 (March 31, 2023: 8.02%).