Indian digital lending startup LoanTap raises US$12M – Press Release
Indian digital lending startup LoanTap today announced a US$12 million in Series B funding round led by Avaana Capital.
The funding round also saw the participation of existing investors 3one4 Capital, India Quotient, Shunwei Capital and Kae Capital.
LoanTap is a platform that offers customised personal loans such as EMI Free Loan, Rental Deposit Loan, Holiday Loan, and other differentiated offerings to white-collared salaried professionals.
It claimed to be one of the few fintech startups that became profitable within two years of its operations.
Satyam Kumar, CEO and Co-founder of LoanTap, said, “LoanTap has created a strong technology backbone which offers a superior customer experience. We tripled our loan book last year and the current round of funding will further fuel this growth”
The company has raised a total of US$25 million to date.
SMEs management platform Khatabook raises US$25M – Press Release
Khatabook, a mobile app that enables SMEs to record and track business transactions, has raised US$25 million Series A funding round from GGV Capital, Partners of DST Global, RTP Ventures, Sequoia India, Tencent, Y Combinator and others.
The round also saw the participation of more than 20 “prominent angels” including Amrish Rau, Anand Chandrasekharan, Deep Nishar, Gokul Rajaram, Jitendra Gupta, Kunal Bahl, Kunal Shah and others.
By completely automating the traditional business ledger process, the app claimed to have helped five million Indian merchants each save over 600 productive working hours in a year. Its UPI-based payment platform is more than doubling month on month.
The team plans to launch other products for MSMEs in the next few months.
GrabWheels launched at ITB Campus – Press Release
Southeast Asian ride-hailing giant Grab announced the launch of its electric scooter service at the campus of Bandung Institute of Technology (ITB).
In addition to launching the service, Grab also announced a partnership with Research and Entrepreneurship Institute (LPIK ITB) that will enable the company to conduct research and development of electric-based transportation conducted.
Chinese media, coworking space operator 36Kr files for IPO – Tech In Asia
Chinese media and coworking space operator 36Kr has filed for an initial public offering on the Nasdaq Global Select Market, Tech In Asia wrote.
The company listed the size of the offering at US$100 million, which is a placeholder amount that is likely to change.
Founded in 2011, the company’s businesses include news publication and information platform provider 36Kr media, a venture capital unit, and coworking space operator Kr Space.
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