Loantap secures $6.2 million in fresh funding from July Ventures and existing investors

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Here’s a structured list of the key information from the provided text about Loantap:

Startup Information

  • Startup Name: Loantap
  • Founded: 2016
  • Founders:
    • Satyam Kumar
    • Vikas Kumar (deceased)

Fundraising Information

  • Latest Fundraise Amount: $6.2 million
  • Fundraise Series: Equity funding
  • Fundraise Date: Not explicitly provided, but it is a recent event.

Investors

  • Lead Investor: July Ventures
  • Other Investors:
    • 3one4 Capital
    • Avaana Capital
    • Kae Capital
    • Swapurna Family Office

Company Performance

  • Total Capital Raised: Approximately $45 million
  • FY24 Revenue: ₹67.5 crore
  • Net Loss for FY24: ₹12.7 crore
  • Core Focus: Transitioned from consumer lending to small business loans, particularly targeting small retailers.

Additional Notes

  • The company has scaled down its unsecured consumer lending book, currently managing a consumer loan book of approximately ₹350 crore through partner lenders.
  • Loantap is involved in offering credit lines to small retailers with annual turnovers below ₹20 lakh.

Market Context

  • The digital lending sector is currently facing regulatory challenges and cautious bank stances.

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2025-06-05 00:31:00