Global investment institution Lighthouse Canton led the venture debt funding round of INR 24 Cr in LoanTap through its venture debt fund, a Category – II Alternative Investment Fund (AIF). As part of the funding, LoanTap has received one of the first cheques for its unique digital lending platform, LTFLoW. Lighthouse Canton’s total share in this round amounts to INR 15 Cr, among other investors.
The AIF is part of Lighthouse Canton’s Southeast Asia & India venture debt strategy. The AIF has a capacity of INR 550 crores and a Greenshoe option of additional INR 550 crores, and it successfully reached a first close of INR 155.4 crores earlier this year. Through the AIF, Lighthouse Canton provides debt capital to technology-enabled start-ups across India.
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LoanTap Financial Technologies (LFTPL) offers end-to-end lending through LTFLoW for sourcing, delivery, and asset management. This AI-driven technology platform has been adopted by over 30 e-commerce sourcing partners. It has 10+ LTFLoW clients, including some of India’s major banks, Non-Banking Financial Companies (NBFCs), payment platforms, and ERP solution providers catering to roughly 2 million micro, small, and medium-sized enterprises (MSMEs). LFTPL has facilitated loans worth INR 1700 crores for its subsidiaries and technology clients. They have two RBI-registered NBFCs subsidiaries that offer tech-driven credit solutions to salaried professionals and MSMEs in the personal finance, supply chain invoice financing, and electric two-wheeler (e-2W) categories.
Based in Pune, LoanTap was founded by seasoned professionals Mr Satyam Kumar and Mr Vikas Kumar, with over 23 years of experience in banking and technology, respectively. Renowned equity funds, including Kae Capital, India Quotient, Avaana capital, 3one4 capital, Shunwei capital, and Tuscan ventures, are backing LoanTap. It is supported by debt facilities from nearly 20 lenders. Additionally, it has its debt issuance programme where the instruments like NCDs and CPs are regularly subscribed by nearly 300+ HNIs and family offices in India.
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Satyam Kumar, Co-founder and CEO at LoanTap, said, “It’s our pleasure to have Lighthouse Canton on board in our growth journey, and excited for the passion resonated by Ankit Agrawal and Sanket Sinha in the potential of LTFLoW platform in delivering the digital credit solutions in India.”
Ankit Agrawal, Director of Venture Debt at Lighthouse Canton, said, “We are excited to be a part of the debt round in LoanTap. Solutions offered by their LTFLoW platform have been helping MSMEs and retail customers to avail loans. The platform is gradually modernizing lending processes and we are looking forward to supporting the company’s growth objectives through our venture debt strategy.”
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Lighthouse Canton, headquartered in Singapore, is a global investment institution with wealth and asset management capabilities. The venture debt strategy comprises a Singapore-based Variable Capital Company (VCC) for investments in Southeast Asia and a Category II AIF for investments in India. The strategy has seen active participation from onshore and offshore institutions and family offices and is the second strategy that it has launched which focuses on the venture ecosystem. It had earlier launched a partnership to invest in venture equity in the Indian startup ecosystem and successfully closed a US$40m fund to invest in 27 pre-series A and series A companies across various sectors.
LoanTap offers innovative loans to help millennials achieve the life that they desire. They differentiate in the otherwise cluttered Personal Loan segment and deliver the fastest Personal Loans at customer-friendly terms. LoanTap has an in-house RBI-registered NBFC. Our focus is to delight our customers by helping them choose the best loan products.
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About Lighthouse Canton
Headquartered in Singapore, Lighthouse Canton is a global investment institution with wealth and asset management capabilities. We employ over 100 experienced professionals across our offices in Singapore, Dubai and India and oversee over 3 billion US dollars worth of assets under management and advisory (as of 30th September 2022).
Lighthouse Canton creates value through innovative investment solutions for accredited private clients, institutional investors and an ecosystem of founders and entrepreneurs globally. Our Asset Management service comprises strong product capabilities across private and public markets. We run diversified strategies such as private equity in real estate, direct lending, venture equity, venture debt, public equities, and global macros.
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