Lighthouse Canton Leads Venture Debt Funding Round Of INR 15 Crore For LoanTap Group As part of the funding, LoanTap has received one of the first cheques for its unique digital lending platform, LTFLoW
By Teena Jose
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Global investment institution Lighthouse Canton led the venture debt funding round of INR 15 crore in LoanTap through its venture debt fund, a Category – II Alternative Investment Fund (AIF). As part of the funding, LoanTap has received one of the first cheques for its unique digital lending platform, LTFLoW. The AIF is part of Lighthouse Canton's Southeast Asia & India venture debt strategy. The AIF has a capacity of INR 550 crore and a Greenshoe option of additional INR 550 crore, and it successfully reached a first close of INR 155.4 crore earlier this year, according to an official statement.
"We are excited to be a part of the debt round in LoanTap. Solutions offered by their LTFLoW platform have been helping MSMEs and retail customers to avail loans. The platform is gradually modernizing lending processes and we are looking forward to supporting the company's growth objectives through our venture debt strategy," said Ankit Agrawal, director of venture debt at Lighthouse Canton.
Lighthouse Canton, headquartered in Singapore, is a global investment institution with wealth and asset management capabilities. The venture debt strategy comprises a Singapore based Variable Capital Company (VCC) for investments in Southeast Asia, and a Category II AIF for investments in India.
"It's our pleasure to have Lighthouse Canton on board in our growth journey, and excited for the passion resonated by Ankit Agrawal and Sanket Sinha in the potential of LTFLoW platform in delivering the digital credit solutions in India," said Satyam Kumar, co-founder and CEO at LoanTap.
LoanTap Financial Technologies (LFTPL) offers end-to-end lending through LTFLoW for sourcing, delivery, and asset management. This AI-driven technology platform has been adopted by over 30 e-commerce sourcing partners. LFTPL has facilitated loans worth INR 1700 crore for its subsidiaries and technology clients, claimed by the company in the statement.
Founded by seasoned professionals Satyam Kumar and Vikas Kumar, LoanTap offers innovative loans to help millennials achieve a life that they desire. They differentiate in the otherwise cluttered Personal Loan segment and deliver fastest Personal Loans at customer friendly terms.
