What is MoneyTap?
MoneyTap, founded in 2015 and based in Bangalore, India, operates an app-based credit line service. The company provides small to medium-sized businesses and individuals with quick credit on mobile devices, offering small to medium-sized cash loans at affordable interest rates. Its core offering is designed to streamline access to financial resources through a user-friendly mobile application, positioning it as a key player in India's burgeoning digital lending market.
How much funding has MoneyTap raised?
MoneyTap has raised a total of $82.3M across 2 funding rounds:
Series A
$12.3M
Debt
$70M
Series A (2017): $12.3M with participation from Prime Venture Partners, New Enterprise Associates, and Steamboat Ventures
Debt (2020): $70M led by Aquiline Technology Growth, vivriticapital.com, RTP Global LLC, Credit Saison Co., Ltd., and Sequoia India
Key Investors in MoneyTap
Aquiline Technology Growth
Aquiline Technology Growth is a venture capital firm specializing in the financial services sector, with a focus on financial technology and credit solutions.
Sequoia India
Sequoia Capital India is a prominent venture capital firm that invests across various stages in Indian startups, with a strong track record in technology and growth-stage companies.
Prime Venture Partners
Prime Venture Partners is an early-stage investment firm that partners with founders to build technology-driven companies, often focusing on fintech and other innovative sectors.
What's next for MoneyTap?
The substantial enterprise-level funding indicates MoneyTap is poised for significant scaling and market expansion. This strategic investment will likely fuel further development of its credit line technology, enhance its customer acquisition strategies, and potentially explore new product offerings or geographical markets. The company's focus on accessible credit for the underserved segments of the market suggests a continued emphasis on financial inclusion and technological innovation to drive future growth.
See full MoneyTap company page
