Get All Access for $5/mo

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

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Logo: Company handout

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.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

Want to Start a Business? Skip the MBA, Says Bestselling Author

Entrepreneur Josh Kaufman says that the average person with an idea can go from working a job to earning $10,000 a month running their own business — no MBA required.

Leadership

Your Definition of Leadership Is Outdated — Here's How to Be a Better Leader in the Modern Workplace

In my nearly thirty years as a leader, I've focused on setting a clear vision and empowering my team to achieve our goals. We prioritize establishing shared objectives while allowing for flexibility when needed.

Starting a Business

They Showed Up to Apple With a Product They Built in Their Dorm Room. Now These Entrepreneurs Are on the Way to Changing the Way Fans Watch Sports.

How Rahat Kulshreshtha and Gaurav Mehta launched Quidich Innovation Labs, technology that is literally changing the game of sports viewership.

Business News

How Nvidia CEO Jensen Huang Transformed a Graphics Card Company Into an AI Giant: 'One of the Most Remarkable Business Pivots in History'

Here's how Nvidia pivoted its business to explore an emerging technology a decade in advance.

Thought Leaders

25 Common Characteristics of Successful Entrepreneurs

Do you have what it takes to get through hard times? Here are the traits that help home-based business owners thrive.

Leadership

Why Hearing a 'No' is the Best 'Yes' for an Entrepreneur

Throughout the years, I have discovered that rejection is an inevitable part of entrepreneurship, and learning to embrace it is crucial for achieving success.