Fintech leader MoneyTap secures Rs. 500 crore, raises Series B for growth

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.

Bengaluru, January 28, 2020: MoneyTap, India’s fastest-growing consumer lending company announced today that it has secured funding of ₹500 crore in equity and debt, setting them up to create a loan book of ₹5,000 crore over the next 12-18 months. 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 have also participated in this round. Debt capital has been secured from leading players like Vivriti Capital, Credit Saison and others in the form of co-lending and credit lines. The company had previously raised a total of $12.3 million.

MoneyTap is India’s first app-based consumer credit line, giving customers access to credit on tap. The company has been on a phenomenal 4X growth trajectory in the last 12 months, and in 3+ years of operations has created a loan book of ₹1,000+ crore and achieved a disbursal run rate of ₹2,500 crore a year. MoneyTap also secured an NBFC license from the RBI in 2019.

The company will use the funds to accelerate its growth trajectory, invest further in technology, data science, and launch its NBFC operations. There are plans to significantly expand its geographical footprint from 60 to 200 Indian cities, bringing its unique credit line value proposition to the masses.

Commenting on the occasion, Anuj Kacker, Co-founder of MoneyTap said “This latest development reaffirms MoneyTap’s leadership position in the fintech sector and the trust it has gained over the years from customers, capital partners and investors. 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 use the funds to expand our credit offerings via 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 the leaders 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.

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: Android: iOS:

About ATG Aquiline Technology Growth

(ATG) seeks to invest in early and growth-stage technology companies that are bringing innovation to the financial services ecosystems. ATG is managed by Aquiline Capital Partners, a private equity firm based in New York and London investing in businesses globally across the financial services and technology sector. The ATG team has experience in technology and financial services and is supported by its colleagues at Aquiline, strategic partners, and an active group of industry Executive Advisors. For more information on ATG, visit

About RTP

RTP Global is an international venture capital firm investing in and supporting technology entrepreneurs. Founded by Leonid Boguslavsky as ru-Net in 1999, RTP Global has a track record of successful early-stage investments including 50+ companies around the world. The firm was one of the first to provide financial and expert support to major European technology companies such as Yandex and Delivery Hero; most recent fund’s home-run was US-based DataDog. Geographically, the majority of the firm’s investments are currently across the US, Europe and India/SEA.

About Sequoia

Sequoia helps daring founders build legendary companies from idea to IPO and beyond. Sequoia India operates in Southeast Asia and India where we actively partner with founders from a wide range of companies, across categories, including BYJUs, Carousell, Druva, GO-JEK, OYO Rooms, Tokopedia, Truecaller, Zilingo, Zomato and more. We spur founders to push the boundaries of what’s possible. In partnering with Sequoia India, startups benefit from 47 years of tribal knowledge and lessons learned in working with some of the world’s most enduring companies. From the beginning, the vast majority of the money we invest has been on behalf of nonprofits and schools like the Ford Foundation, Mayo Clinic, and MIT, which means founders’ accomplishments make a meaningful difference. For more information on Sequoia's work in India and SE Asia, visit