info@rtp-global.com | 29.01.20
The funding round is a mix of Equity and Debt, led by global funds like Aquiline Technology Growth and RTP Global and existing investors, namely Sequoia India, Prime Venture Partners and MegaDelta.
MoneyTap, India’s fastest-growing consumer lending company, today announced that it has secured funding of ₹500 crores in equity and debt. The Equity Series B round is led by global funds, including Aquiline Technology Growth (ATG), RTP Global and Sequoia India, along with Korea and Japan-based investors. Existing investors Prime Venture Partners and MegaDelta also participated in the round. Debt capital has been secured from leading players like Vivriti Capital, Credit Saison and others in the form of co-lending, credit lines and term loan arrangements, and the company intends to scale up this piece in the coming year. The company had previously raised a total of $12.3 million.
MoneyTap will use the funds to accelerate its growth trajectory, invest further in technology, data science, and build its NBFC balance sheet. There are plans to significantly expand its geographical footprint from 60 to 200 Indian cities.
Commenting on the occasion, Anuj Kacker, Co-founder of MoneyTap said, “This latest development reaffirms MoneyTap’s strong growth potential in the fintech sector and the trust it has gained over the years from customers, capital partners and investors. From the beginning, our mission has been to provide credit to the growing middle-income groups, in the most flexible, convenient and affordable manner, with money being available to the customer on Tap. We will use this funding to scale our business, innovate with data-backed lending models and continue to hire aggressively. We will also allocate a significant chunk of the funds to grow the balance sheet for our own NBFC.”
Max Chee –Head of Aquiline Technology Growth said, “The ever-increasing digitization of India’s economy and financial services industry has created compelling opportunities, particularly for India’s emerging fintech companies. MoneyTap’s unique line of credit products address the significant need for consumer credit that is seamlessly distributed to end-users. We believe they are one of the best in the industry in terms of volume growth and managing risk at scale. We look forward to working with them to expand their mission and vision.”
Adding, Kirill Kozhevnikov – Partner at RTP Global said, “MoneyTap is building capabilities to tap into the present and future needs of the customers faster than other fintech startups. The co-founders have a clear vision to transform the consumer lending industry and serve the needs of this huge credit market. We are happy to be part of this journey.”
Abheek Anand, Managing Director, Sequoia Capital (India) Singapore said, “We are thrilled to see MoneyTap’s recent performance and their laser focus on solving a clear customer pain point. They have successfully balanced growth, profitability and book quality – three of the most important indicators of an enduring fintech business.”
MoneyTap was commercially launched in September 2016 as India’s first app-based consumer credit line by serial entrepreneurs Bala Parthasarathy, Anuj Kacker and Kunal Varma. The company has been on a phenomenal 5X growth trajectory in the last 12 months, and in less than four years has created a loan book of ₹1,000+ crores and achieved a disbursal run rate of ₹2,500 crores a year. MoneyTap also secured an NBFC license from the RBI in 2019.
About MoneyTap
MoneyTap is India’s first app-based credit line that provides quick, flexible, and hassle-free credit of up to ₹5 Lakhs at interest rates starting 13% per annum. By making credit accessible to diverse customer segments in multiple cities, MoneyTap is leading the way in revolutionizing consumer lending in the Asian fintech space.
To know more, visit: https://www.moneytap.com/
Android: https://play.google.com/store/apps/details?id=com.mycash.moneytap.app
iOS: https://itunes.apple.com/in/app/moneytap-loan-credit-card/id1374771286
For press enquiries: info@rtp-global.com
info@rtp-global.com | 04.05.20
– Company’s active user base has quadrupled in the past six months
– Capital will be used to improve the product offerings and scale the technology platform
– RTP Global leads Series A round with follow on investment from Sequoia Capital India’s Surge and Blume Ventures
info@rtp-global.com | 27.04.20
Bijak, a B2B platform for agricultural commodities, announced today that it has raised a USD 12 million (INR 91 crore) Series A round led by RTP Global. Existing investors Omnivore, Omidyar Network India, Sequoia Capital India’s Surge, and Better Capital also participated in the round.
info@rtp-global.com | 03.03.20
Today, we announce the launch of RTP III. At $650M, our latest fund is more than three times the size of RTP II and will enable us to invest in even more companies around the world.
info@rtp-global.com | 29.01.20
The funding round is a mix of Equity and Debt, led by global funds like Aquiline Technology Growth and RTP Global and existing investors, namely Sequoia India, Prime Venture Partners and MegaDelta.
info@rtp-global.com | 13.11.19
CoachHub has closed a €10M funding round, from existing investors HV Holtzbrinck Ventures, Partech and Speedinvest x and new investor RTP Global. After raising €6M just three months ago, the latest round brings total funds raised this year to €16M, recognising CoachHub’s position as the leading digital coaching provider in Europe.
info@rtp-global.com | 07.11.19
We are happy to announce that our partner Anton Inshutin was leading a panel about Digital Transformation in Logistics at NOAH London on 30 October. Below you can see some of the ideas shared on the panel
info@rtp-global.com | 21.08.19
RTP Global together with other well-known existing investors, has invested a total of 5,5 million euros in the AI-Startup e-bot7, which was founded in 2016. Other existing investors include 42CAP, the Main Incubator, Commerzbank’s early-stage investor, and a leading private investor.
With the investment round, e-bot7 will further expand its position in the European market. The company will use the funds to further expand its technology and business team to help more customers to make their customer service more efficient through artificial intelligence.
info@rtp-global.com | 19.06.19
Shipsta Secures Millions in Funding for its Unique
and Revolutionary Digital Logistics Concept
SHIPSTA is unique in delivering a digitisation boost in the logistics industry via
crowdsourcing and artificial intelligence – digitally procuring freight rates has
never been so easy. Well-known investors have recognised this: RTP Global and
MANGROVE CAPITAL PARTNERS are supporting SHIPSTA with a generous
amount in the millions.
info@rtp-global.com | 18.03.19
New York, NY and Novosibirsk, NSB – March 13, 2019 – Dasha.AI Inc., an AI startup dedicated to building human-level voice conversational AI platform, today announced it has completed a $2 million seed round led by RTP Ventures and RTP Global.
“We are delighted to have such experienced in B2B venture capitalists help us build the company,” said Vladislav Chernyshov, CEO and co-founder of Dasha. “We plan to aggressively grow the company and the technology so we can continue to provide the best voice conversational AI to a market which we estimate to exceed $30bln. worldwide”
info@rtp-global.com | 15.11.18
RTP Global, the international venture capital investment firm, announces that Kirill Kozhevnikov joins as Partner focusing on India investments, working together with Galina Chifina. As part of its continued expansion in the country, RTP Global plans to invest significant portion of its new global $200M fund into early and mid stage opportunities in India.
info@rtp-global.com | 30.10.18
London / New York / Moscow: ru-Net, the early stage investment and venture capital firm founded by Leonid Boguslavsky has announced at NOAH 2018 that it is changing its name to RTP Global, to reflect the success of its USA based arm RTP.vc and company’s evolution to a globally focussed venture capital firm.