LoanTap is a fintech platform delivering flexible EMI free loan products to salaried professionals. It uses technology to deliver smart and innovative products for millennials. Borrowers can choose custom- made loan products from an array of offerings like Overdraft Facility, Credit Card Takeover Loans, Rental Security Deposit Loans, Advance Salary Loans and consumer durable loans. Registered as LoanTap Credit Products Pvt. Limited with RBI, it is an NBFC offering unique products and features within the regulatory guidelines, thereby ensuring a fully transparent pricing structure. Headquartered in Mumbai and operational in Pune as well, LoanTap was incorporated in the year 2016 by ex-banking professional Satyam Kumar and former tech professional Vikas Kumar. The duo felt a constant need for credit solutions in the upwardly mobile salaried segment for acquiring assets or for personal consumption. They wished to re-define the retail asset distribution model by eliminating the information gap between producer and consumer and break the clutter of direct sales agents and brokers driven by short-term goals. Hence they integrated their respective specialisations in retail loans and technology domains for 17-18 years each to create a consumer-friendly credit facility in the competitive fintech space. Following an agency-based collection model, the online platform in its first phase has ventured into the low delinquency salaried segment that is characterised by a job experience of merely 2-5 years. The company manages to stand out for its speedy disbursement of loans with an average amount of Rs 4 lakhs within 15 days to 5 years. It also makes a pitch for flexible single and bulk payments that are convenient and cost-effective. Moreover, by being 100% online, it uses minimal human interface to verify the algorithms for predicting loan amounts. With a team of expert professionals manning its operations that includes retail asset and tech professionals with proven track records and CEOs / MDs and CFOs with leading FIs and European giants, LoanTap draws on cutting-edge technology to guarantee a world-class loan origination and management system for its target audience. The online platform has recently closed its first round of funding. Currently focussing primarily on upwardly mobile salaried professionals, LoanTap envisions penetrating deeper into the salaried segment. It eventually aims at tapping the MSME sector with an average loan size of Rs 6 Lakhs by expanding in the top 10 cities of the country and reaching a book size of INR 750 crores in the next 3 years.