Lendingtech startup LoanTap raised $2.9 million in debt funding led by Singapore-based global investment platform Lighthouse Canton. The investment firm’s share in this round stands at INR 15 Cr.
LoanTap provides personalised personal loan products. It has an RBI-registered NBFC in-house. The new funding will be used to scale the startup’s digital lending services on the LoanTap LTFLoW platform with its in-house NBFCs and co-lending partners. According to an Inc42 report, the country’s fintech industry is anticipated to cross the $1.3 Tn mark by 2025, growing at a 31% CAGR by 2025. Of this, lending tech is a sub-sector that will capture 47% or $616 Bn by 2025.
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