Moneytap
MoneyTap launches 'buy now pay later' facility for digital borrowers
Digital lending platform MoneyTap on Wednesday said it has unveiled a 'buy now pay later' facility for its borrowers
 "MoneyTap launches 'buy now pay later' facility for digital borrowers")
MoneyTap to help banks give away Rs 300 crore in small personal loans
Rather than acting as marketplace for banks, firm controls experience of borrowing from end to end
 "MoneyTap to help banks give away Rs 300 crore in small personal loans")
Bengaluru-based MoneyTap raises $12.3 million led by Sequoia
Bengaluru-based FinTech startup MoneyTap has raised $12.3 million in funding led by Sequoia Capital as it looks to build technology to seamlessly deliver small loans to individuals in partnership with banks. The series A funding round also saw the participation of Silicon Valley-based investor NEA and existing investor Prime Venture Partners. MoneyTap targets salaried individuals earning upwards of Rs 20,000 every month and evaluates within a few minutes if they're eligible to avail a line of credit of up to Rs 5 lakh. The company uses a customer's credit score, transaction history and other data that is fed into proprietary algorithms to decide on behalf of the bank if the borrower is a safe bet. "We are uniquely placed wherein we sit on top of banks and NBFCs. After downloading our app a consumer can within five minutes know if they are eligible for borrowing credit. They can then complete the KYC formalities on their phone and can borrow any amount under the limit they are ...
