What is MoneyTap?
Founded in 2015 and based in Bangalore, India, MoneyTap operates an app-based credit line service. The company provides small to medium-sized businesses and individuals with quick credit on mobile devices, offering affordable interest rates. MoneyTap's innovative approach to delivering accessible cash loans positions it as a key player in the burgeoning Indian fintech market, addressing the need for flexible and rapid financial solutions.
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, Steamboat Ventures, and New Enterprise Associates
Debt (2020): $70M led by vivriticapital.com, Credit Saison Co., Ltd., Aquiline Technology Growth, RTP Global LLC, and Sequoia India
Key Investors in MoneyTap
vivriticapital.com
Vivriti Capital is an entity involved in MoneyTap's debt financing, suggesting a focus on credit and debt solutions within the financial services sector.
Aquiline Technology Growth
Aquiline Technology Growth is a venture capital firm specializing in financial technology, indicating a strategic interest in innovative fintech solutions like MoneyTap's credit line.
Sequoia India
Sequoia Capital India is a prominent venture capital firm known for investing in early to growth-stage technology companies, signaling strong confidence in MoneyTap's market potential and scalability.
What's next for MoneyTap?
The substantial enterprise-level funding suggests MoneyTap is poised for significant scaling and expansion. This capital injection will likely fuel further technological development of its credit line platform, enhance its market reach across India, and potentially explore new financial product offerings. The company's strategic focus on mobile-first credit solutions indicates a continued commitment to leveraging technology to democratize access to financial services, aiming to solidify its position as a leader in the digital lending space.
See full MoneyTap company page
