Loantap raises $6.2 Mn led by July Ventures

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Here’s a summarized list based on the provided content:

Funding Details

  • Total Funds Raised: Approximately $26 million
    • Recent Equity Funding: $6.2 million
    • Venture Debt Raised: $2.3 million
  • Funding Series: Recent round (details on specific series not provided)

Investors

  • Lead Investor: July Ventures
  • Existing Backers:
    • 3one4 Capital
    • Avaana Capital
    • Kae Capital
    • Swapurna Family Office
    • Lighthouse Canton (invested in separate debt round)

Startup Information

  • Startup Name: Loantap
  • Founded: 2016

Founders

  • Founders:
    • Satyam Kumar
    • Vikas Kumar (deceased in April 2024)

Notable Events

  • Acquisition: Unofin (March 2023)
  • Previous Debt Round: Raised ₹24 crore (~$2.9 million) from Lighthouse Canton in early 2023.

Additional Information

  • Business Focus: Transitioned from consumer lending to serving small merchants (e.g., pharmacies, stationery shops).
  • Annual Disbursal Run Rate: ₹600 crore across 26 cities, aiming for ₹900 crore by FY26.
  • Revenue in FY24: ₹67.5 crore with a net loss of ₹12.7 crore.

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2025-06-05 05:15:51