App-based consumer credit provider MoneyTap aims at Rs 5,000 cr loan book

Firm has raised Rs 500 cr in equity and debt. It was launched in Sept 2016 as India's first app-based consumer credit line three serial entrepreneurs

MoneyTap, a consumer-lending company, said on Tuesday that it has secured funding of Rs 500 crore in equity and debt, in a development that it expects will help the firm create a loan book of Rs 5,000 crore over the next 12-18 months. The equity Series-B round was led by global funds such as Aquiline Technology Growth (ATG), RTP Global and Sequoia India, along with Korea and Japan-based investors. Existing investors, Prime Venture Partners and MegaDelta, have also participated in this round. Debt capital has been secured from leading players such as Vivriti Capital and Credit Saison in the form