This year with a niche product like an app-based credit line and now $12.3 million from Sequoia, NEA, and Prime Venture Partners, what has MoneyTap packed in to reach its vision of a Rs 300-crore loan book?
When industry veteran Bala Parthasarathy along side serial business owners Kunal Varma and Anuj Kacker looked at building Asia’s very very very first app-based line of credit, MoneyTap, the concept ended up being considered unorthodox.
A bold one although the second-largest smartphone market in the world, India was still just beginning to warm up to digital payments, making the idea of a credit line.
Validating the founders’ eyesight, nonetheless, on Wednesday, Sequoia India along side existing investors NEA and Prime Venture Partners announced spending $12.3 million within the credit line that is app-based. Continue reading “With $12.3M from Sequoia among others, MoneyTap is building credit lines well well worth Rs 300cr”