In a category-II alternative investment fund (AIF), global investment institution Lighthouse Canton has led a venture debt funding round of ₹15 crore in leading tech start-up LoanTap.

LoanTap received a total investment of ₹24 crore out of which ₹15 crore was led by Lighthouse Canton.

The AIF is part of Lighthouse Canton’s Southeast Asia and India venture debt strategy. The AIF has a capacity of ₹550 crore and a greenshoe option of an additional ₹550 crore, and it reached a first close of ₹155.4 crore earlier this year. Through the AIF, Lighthouse Canton provides debt capital to technology-enabled start-ups across India.

Ankit Agrawal, Director of Venture Debt, 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.”

Product offered

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 over 10 LTFLoW clients, including some of India’s major banks, non-banking financial companies (NBFCs), payment platforms, and ERP solution providers catering to roughly two million micro, small, and medium-sized enterprises (MSMEs).

Satyam Kumar, Co-founder and CEO, 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.”