City-based startup OpenTap, which provides short-term credit for the vast underbanked population, today announced its expansion plan across Tamil Nadu.
As part of the plan, the company inaugurated a regional office in Coimbatore and branch offices in Salem and Tiruchirapalli.
The startup aims at lending close to Rs 25 crore in the rest of Tamil Nadu and disbursing 10,000 loans by this year-end, a press release said.
"As of now, we have approximately 50 lakh people working in the industrial belt. We have a plan to further widen our presence," the release quoted co-founder and CEO of OpenTap Senthil Natarajan as saying.
The startup, focussing on providing short-term credit for underserved with a monthly income of less than Rs 25,000, has presence in Bengaluru, Chennai, Coimbatore, Nashik, Puducherry, Pune, Salem and Tirupur.
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