LoanTap announces new digital lending models with Arka Fincap Ltd and MAS Financial Services

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Business Wire India reports from Pune, Maharashtra, India. LoanTap, a leading fintech digital lending platform, has announced commercial agreements with non-bank financial company (NBFC) – Arka Fincap Ltd, to end the 2022 financial year on a high note (Arka). LoanTap has also partnered with MAS Financial Services Ltd. (MAS), an RBI registered NBFC, in a co-lending strategy for salaried borrowers and MSMEs. LoanTap will be able to access a wider customer base and enable loan disbursements through these collaborations by leveraging its technology and rapid processes.

Gautam Sinha, Senior Vice President of Technology, said, “LoanTap’s ‘LT-Flow’ technology platform enables lenders to source, share risk (co-lending), underwrite, provide capital and manage loans. With the help of LT FLoW, entities can easily start digital KYC, NACH and agreement, as well as AI-powered credit decision, thus seamlessly leveraging end-to-end digital lending. These collaborations are a step forward in this direction, in which we aim for financial inclusion. About LoanTap LoanTap is a digital lending FinTech company with in-house NBFC and entered the lending industry in 2016. It has successfully made disbursements of over Rs. 800 Crs. until there.

Ashish Jain, Chief Financial Officer, said, “LoanTap has been a forerunner in achieving 100% digital inclusion in India since its inception and has actively taken initiatives to achieve it. These collaborations are a testament to its mission, as these partnerships will enable LoanTap to reach a wider customer base and help those customers access LoanTap’s versatile financial products and services. With these announcements, LoanTap will have six co-lending partnerships as well as its own NBFC platform. LoanTap also offers loans to millennials and young professionals and recently launched the Unlimited Credit Card.”

LoanTap focuses on technology-enabled lending and aims for 100% financial inclusion. Apart from NBFC, LoanTap also leverages its technology platform to enable other financial institutions to enter into such co-lending partnerships. About Arka Fincap Ltd. Arka Fincap Limited (formerly known as Kirloskar Capital Limited) is a systemically important NBFC (non-bank financial company) that does not take deposits. Founded in 2018, Arka’s primary focus is to provide structured term finance solutions through corporate loans, real estate and related finance, SME/MSME loans and personal finance. Arka has been assigned an AA-/stable rating for the long term and an A1+ rating for the short term facilities of CRISIL.

About MAS Financial Services Ltd. Established in 1995, MAS Financial Services Ltd. is registered as a non-banking financial company with the Reserve Bank of India. MAS offers financial services for micro-enterprise loans, SME loans, home loans, two-wheeler loans, used car loans and commercial vehicle loans. The focus remains on the broad low- and middle-income groups of society, spread across urban, semi-urban and rural areas, including the formal and informal sectors. LoanTap’s goal is to build a financial institution on the roots of financial inclusion, and it will continue to do so by collaborating with effective players in the future.

Summary of news:

  • LoanTap Announces New Digital Lending Models with Arka Fincap Ltd. and MAS Financial Services
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