LoanTap plans to disburse loans totaling Rs 800 crore in FY20

Fin-tech startup LoanTap is targeting to disburse loans worth Rs 800 crore during the financial year 2020, a top executive said.

Founded in 2016, the company has so far disbursed loans worth Rs 230 crore, reporting around 4x year-on-year growth.

"Except for the macro economic things which of course is under nobody's control, from the sector perspective, the worst is already over. Although the IL&FS crisis has happened, things like these doesn't happen every year. Once in six-seven years such a cyclical thing happens. So now we expect that next three four years the next level of momentum will happen," Amit Tewary, chief operating officer told Moneycontrol.

LoanTap recently received a funding of over $8 million through a combination of equity and debt instruments from 3one4 Capital and existing investors such as  Shunwei Capital, Kae Capital, India Quotient, Tuscan Venture and angel investor Ashish Goenka.