Global investment institution Lighthouse Canton leads Venture debt funding round of INR 24 Cr for LoanTap Group

Pune, 07, February 2023: Global investment institution Lighthouse Canton led the enterprise debt funding round of INR 24 Cr in LoanTap by means of its enterprise debt fund, a Category – II Alternative Investment Fund (AIF). As half of the funding, LoanTap has obtained one of the primary cheques for its distinctive digital lending platform, LTFLoW. Lighthouse Canton’s whole share on this round quantities to INR 15 Cr, amongst different traders.

The AIF is a component of Lighthouse Canton’s Southeast Asia & India enterprise debt technique. The AIF has a capability of INR 550 crores and a Greenshoe choice of extra INR 550 crores, and it efficiently reached a primary shut of INR 155.4 crores earlier this 12 months. Through the AIF, Lighthouse Canton supplies debt capital to technology-enabled start-ups throughout India.

LoanTap Financial Technologies (LFTPL) presents end-to-end lending by means of LTFLoW for sourcing, supply, and asset administration. This AI-driven know-how platform has been adopted by over 30 e-commerce sourcing companions. It has 10+ LTFLoW shoppers, together with some of India’s main banks, Non-Banking Financial Companies (NBFCs), cost platforms, and ERP answer suppliers catering to roughly 2 million micro, small, and medium-sized enterprises (MSMEs). LFTPL has facilitated loans price INR 1700 crores for its subsidiaries and know-how shoppers. They have two RBI-registered NBFCs subsidiaries that provide tech-driven credit score options to salaried professionals and MSMEs within the private finance, provide chain bill financing, and electrical two-wheeler (e-2W) classes.

Based in Pune, LoanTap was based by seasoned professionals Mr Satyam Kumar and Mr Vikas Kumar, with over 23 years of expertise in banking and know-how, respectively. Renowned fairness funds, together with Kae Capital, India Quotient, Avaana capital, 3one4 capital, Shunwei capital, and Tuscan ventures, are backing LoanTap. It is supported by debt amenities from almost 20 lenders. Additionally, it has its debt issuance programme the place the devices like NCDs and CPs are often subscribed by almost 300+ HNIs and household places of work in India.

Satyam Kumar, Co-founder and CEO at LoanTap, stated, “It’s our pleasure to have Lighthouse Canton on board in our development journey, and excited for the fervour resonated by Ankit Agrawal and Sanket Sinha within the potential of LTFLoW platform in delivering the digital credit score options in India.”

Ankit Agrawal, Director of Venture Debt at Lighthouse Canton, stated, “We are excited to be an element of the debt round in LoanTap. Solutions provided by their LTFLoW platform have been serving to MSMEs and retail clients to avail loans. The platform is progressively modernizing lending processes and we’re trying ahead to supporting the corporate’s development aims by means of our enterprise debt technique.”

Lighthouse Canton, headquartered in Singapore, is a world investment institution with wealth and asset administration capabilities. The enterprise debt technique includes a Singapore primarily based Variable Capital Company (VCC) for investments in Southeast Asia, and a Category II AIF for investments in India. The technique has seen lively participation from onshore and offshore establishments and household places of work, and is the second technique that it has launched which focuses on the enterprise ecosystem. It had earlier launched a partnership to put money into enterprise fairness within the Indian startup ecosystem, and efficiently closed a US$40m fund to put money into 27 pre-series A and sequence A corporations throughout numerous sectors.