– Of the total investment, Lighthouse Canton invested INR 15 Cr.
Pune, 07, February 2023: Lighthouse Canton, a global investment institution, spearheaded a venture debt funding round of INR 24 Cr for LoanTap Group through its Category II Alternative Investment Fund (AIF), the venture debt fund. As part of the funding, LoanTap received the first installment for its innovative digital lending platform, LTFLoW, with Lighthouse Canton’s share of the investment amounting to INR 15 Cr, among other investors.
Lighthouse Canton’s AIF, part of the institution’s Southeast Asia & India venture debt strategy, has a capacity of INR 550 Cr and an additional Greenshoe option of INR 550 Cr. The AIF reached a first close of INR 155.4 Cr earlier this year and provides debt capital to technology-driven startups across India.
LoanTap Financial Technologies (LFTPL) offers end-to-end lending solutions through its AI-powered platform, LTFLoW. Over 30 e-commerce partners have adopted this technology, with 10+ clients including major Indian banks, NBFCs, payment platforms, and ERP providers serving around 2 million MSMEs. LFTPL has facilitated loans worth INR 1700 Cr for its subsidiaries and technology clients, and has two RBI-registered NBFCs that offer tech-credit solutions to salaried professionals and MSMEs in personal finance, supply chain invoice financing, and electric two-wheeler categories.
Founded by seasoned professionals Satyam Kumar and Vikas Kumar in Pune, LoanTap has the support of equity funds like Kae Capital, India Quotient, Avaana Capital, 3one4 Capital, Shunwei Capital, and Tuscan Ventures. The company also has nearly 20 debt facilities from lenders and a debt issuance program regularly subscribed by over 300 HNIs and family offices in India.
Satyam Kumar, Co-founder and CEO at 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.”
Ankit Agrawal, Director of Venture Debt at 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. The platform is gradually modernizing lending processes and we are looking forward to supporting the company’s growth objectives through our venture debt strategy.”
Lighthouse Canton, a global investment institution based in Singapore, offers wealth and asset management services. Its venture debt strategy includes a Singapore-based Variable Capital Company (VCC) for Southeast Asia investments and a Category II Alternative Investment Fund (AIF) for investments in India. The strategy has garnered support from both local and overseas institutions and family offices and is the second initiative by Lighthouse Canton to invest in the venture ecosystem. Previously, the company had established a venture equity partnership and successfully raised a US$40 million fund to invest in 27 pre-series A and series A startups across various industries.