MoneyTap will aim to deepen its existing Bank/NBFC partnerships with the new license.
MoneyTap, an Indian app-based credit line Fintech, has recently bagged the non-banking financial company (NBFC) license from the Reserve Bank of India (RBI).
Starting with the goal of providing a flexible borrowing experience on its app by partnering with Banks & NBFCs, Bangalore-based MoneyTap has achieved several milestones since its inception in 2016.
Available in more than 50 cities of India, MoneyTap, has created a total loan book of Rs 1,000 crore and has achieved a disbursal run rate of Rs 2,500 crore a year.
With this new license, MoneyTap aims to further scale its business and deepen its existing Bank/NBFC partnerships, through a strong focus on tech innovation, inclusive growth and hybrid lending strategies.
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