LoanTap

LoanTap, operated by LoanTap Financial Technologies Private Limited, is a Pune-headquartered digital lending platform founded in 2016. It originates and services loans online, historically targeting salaried professionals with a minimum monthly income of about Rs 30,000 and offering ticket sizes from roughly Rs 25,000-50,000 up to Rs 10 lakh with tenures of up to 60 months. Lending is done through in-house RBI-registered non-banking financial companies: LoanTap Credit Products Private Limited for consumer loans and I-Loan Credit Private Limited for MSME credit.

The product range spans personal loans, EMI-free loans (interest-only monthly payments with periodic bullet principal repayments), personal overdrafts, credit-card takeover, advance salary, rental deposit, house owner, wedding, holiday, medical and debt consolidation loans, as well as two-wheeler and electric two-wheeler loans, MSME term loans, working capital loans, merchant AfterPay and short-term invoice financing credit lines of up to Rs 5 lakh for 7-30 day tenures. The company also markets BICRi (Business Indicator for Credit Ratings in India), an AI-driven credit-health rating tool for retailers that distributors can use to extend trade credit.

By 2025 the business had shifted from balance-sheet consumer lending toward supply-chain and merchant financing for small retailers such as pharmacies and stationery shops, scaling down its unsecured consumer book and instead sourcing such loans for NBFC partners. It has also built a middleware technology platform used by three financial institutions to originate and manage small-business loans.

Founding story

LoanTap was founded in 2016 by Satyam Kumar and Vikas Kumar. Satyam Kumar, the CEO, is a banking industry veteran with more than 19 years of experience who previously served as National Head - Mortgages at IndusInd Bank and held product, business and credit roles at ICICI Bank, including Regional Head - Mortgage. Vikas Kumar, the CTO, was an IIM graduate who began his career at Infosys, co-founded the e-learning company Brainvisa and later served as CTO of SME Networks.

Business model

LoanTap lends from its own balance sheet through group NBFCs (LoanTap Credit Products and I-Loan Credit), earning interest income and a 2% processing fee plus taxes on sanctioned amounts. It increasingly originates unsecured consumer loans on behalf of partner NBFCs rather than holding them, and licenses a middleware lending platform to banks and NBFCs for originating and managing small-business loans.

Interest income on personal, MSME and merchant credit lines, with quoted rates of roughly 16-24% per annum (historically stated as 18-30%) and a maximum APR of 29%, plus processing fees of 2% of the sanctioned amount. Additional revenue comes from loan sourcing for partner NBFCs and from its lending software platform.

Traction

The company reported disbursing Rs 28 crore of loans up to March 2017 and Rs 270 crore by mid-2019, with average ticket size rising from Rs 2.48 lakh to Rs 2.8-3 lakh. As of March 2024 consolidated AUM stood at Rs 388 crore (from Rs 357 crore a year earlier), with FY24 total income of Rs 67.5 crore and a narrowed loss of about Rs 12.4-12.7 crore. In mid-2025 it claimed an annual disbursal run rate of Rs 600 crore across 26 cities serving nearly 50,000 retail customers, targeting Rs 900 crore of annual disbursements by FY26. Its Android app has passed one million downloads and its iOS app holds a 4.1 rating from 585 ratings.

Latest developments

In June 2025 LoanTap announced a pre-Series C round of Rs 54 crore ($6.2 million) led by July Ventures with participation from 3one4 Capital, Avaana Capital, Kae Capital and the Swapurna Family Office, alongside Rs 20 crore of venture debt, earmarked for expanding supply-chain financing and invoice financing for small retailers and scaling its BICRi credit-readiness tool. Following the death of co-founder and CTO Vikas Kumar in April 2025, the company said it planned to elevate a senior executive to co-founder and appoint a new CTO from the existing team.