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Friday, July, 1, 2022

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LoanTap Announces Partnership with Arka Fincap Ltd. and MAS Financial Services for New Digital Lending Models
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                            Pune, Maharashtra, India:
                         A leading fintech digital lending platform, LoanTap aims to close Financial Year 2022 with a bang as they announce business collaborations with Non-Banking Financial Company (NBFC) - Arka Fincap Ltd. (Arka). Additionally, LoanTap has also partnered with RBI registered NBFC, MAS Financial Services Ltd. (MAS) in a co-lending model for the salaried and MSME segment.The collaboration will allow LoanTap to utilize its technology and quick processes to tap into a larger customer base and enable loan disbursals through these partnerships.
  • Ashish Jain, CFO said:
    “LoanTap has been a frontrunner in achieving 100% digital inclusion in India since inception and has been actively taking initiatives to realise the same. These collaborations are testaments to its mission as these partnerships will allow LoanTap to reach out to a larger customer base and help these customers get access to LoanTap’s versatile financial products and services. With these announcements, LoanTap will have six Co-lending partnerships along with its own NBFC platform. LoanTap also caters to loans for millennials and young working professionals and has recently launched the Limitless Credit Card.”

*Gautam Sinha, Senior VP Technology said:
“LoanTap’s technology platform ‘LT-Flow’ enables lenders to source, share risk (co-lend), underwrite, plug-in capital, and manage loans. With the help of LT FLoW, entities can easily start digital KYC, NACH, and agreement, along with AI powered credit decisioning, thus seamlessly operate end to end digital lending. These collaborations are the step forward in that direction, wherein we are aiming at financial inclusion.”

About LoanTap

LoanTap is a digital lending FinTech firm with in-house NBFC and having entered the lending industry in 2016. It has successfully made disbursements of more than Rs. 800 Crs. so far.

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LoanTap focuses on technology-driven lending and has been aiming 100% financial inclusion. Apart from NBFC, LoanTap also operates its Technology platform to enable other financial institutions for such co-lending partnerships.

About Arka Fincap Ltd.

Arka Fincap Limited (Formerly known as Kirloskar Capital Limited) is a systemically important non-deposit taking NBFC (Non-Banking Financial Company). Established in 2018, Arka’s key objective is to provide structured term financing solutions via Corporate Lending, Real Estate & Allied Financing, SME/MSME Lending, and Personal Financing.

Arka has been assigned a rating of AA-/stable for long term and rating of A1+ for short-term facilities from CRISIL.

About MAS Financial Services Ltd.

Having incepted back in 1995, MAS Financial Services Ltd. is registered as non-banking financial company with the Reserve Bank of India. MAS offers Financial Services for Micro Enterprises Loans, SME Loans, Home Loans, Two-Wheeler Loans, Used Car Loans, and Commercial Vehicle Loans. The focus remains on the vast lower-income and middle-income groups of the society, spread across urban, semi urban and rural areas, and including formal and informal sector.

LoanTap’s aim is to build a financial institution on the roots of financial inclusion, and it shall continue to do it by collaborating with efficient players in the future.

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Disclaimer: This Press Release has not been vetted or endorsed by The Eastern Herald's editorial staff.
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