About MoneyTap
MoneyTap is a company based in Bengaluru (India) founded in 2015 by Ruchir Lahoty, Anuj Kacker, Bala Parthasarathy, and Kunal Varma. MoneyTap has raised $93.32 million across 5 funding rounds from investors including Money Forward, Vivriti Capital and Saison Card. The company has 162 employees as of March 28, 2024. MoneyTap offers products and services including Freo Credit, UPI Services, Insurance Products, and Digital Gold. MoneyTap operates in a competitive market with competitors including vCard, GalaxyCard, INDIE by IndusInd Bank, Dobzin and LoanClub, among others.
- Headquarter Bengaluru, India
- Employees 162 as on 28 Mar, 2024
- Founders Ruchir Lahoty, Anuj Kacker, Bala Parthasarathy, Kunal Varma
- Stage Minicorn
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Sectors
Financial Services
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Email
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Phone
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Website
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Social
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- Legal Name Mwyn Tech Private Limited
- Date of Incorporation 20 Oct, 2015
- Jurisdiction Bangalore, Karnataka, India
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Annual Revenue
$12 M (USD)5.91as on Mar 31, 2023
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Net Profit
-$4.8 M (USD)23.6as on Mar 31, 2023
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EBITDA
-$5.11 M (USD)15.91as on Mar 31, 2023
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Total Equity Funding
$93.32 M (USD)
in 5 rounds
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Latest Funding Round
Not available
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Investors
Money Forward
& 15 more
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Employee Count
162
as on Mar 28, 2024
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Products & Services of MoneyTap
MoneyTap offers a comprehensive portfolio of products and services, including Freo Credit, UPI Services, Insurance Products, and Digital Gold.
App for instant loans up to ₹5 Lakh without collateral
Quick transfers and payments via app
Various insurance options through app
Digital gold purchase and management
People of MoneyTap
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Funding Insights of MoneyTap
MoneyTap has successfully raised a total of $93.32M across 5 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in MoneyTap
MoneyTap has secured backing from 16 investors, including institutional, venture fund, and angel investors. Prominent investors backing the company include Money Forward, Vivriti Capital and Saison Card.
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Sequoia Capital is engaged in venture capital investments.
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Private equity and debt investments are directed toward financial sectors.
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Venture capital fund focused on tech startups
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Investor details for MoneyTap
Investor domains, locations, round participation, and complete history require an active premium plan.
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- Investor locations
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Verified entity values are shown only after access is granted.
Investments & Acquisitions by MoneyTap
Investment portfolio details for MoneyTap
Portfolio company identities, transaction dates, round details, and investment values require an active premium plan.
- Portfolio identities
- Transaction dates
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Financial Statements - MoneyTap
Detailed financials for MoneyTap
Historical revenue, profit, statement rows, ratios, and trend charts require an active premium plan.
- Historical revenue
- Profit trends
- Statement rows
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Moneytap Comparisons
Peer comparison for MoneyTap
Named peer metrics, headcount, funding, location, and side-by-side benchmarks require an active premium plan.
- Named peers
- Headcount comparison
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- Operating benchmarks
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Competitors of MoneyTap
MoneyTap operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as vCard, GalaxyCard, INDIE by IndusInd Bank, Dobzin and LoanClub, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Credit cards perosnal line of credit
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Offers instant credit via app for shopping, bills, and online transactions.
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Offers a digital banking platform for various financial applications.
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Hosts a digital marketplace for personal credit lines.
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Hosts a digital marketplace for personal credit lines.
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Detailed competitors of MoneyTap
Competitor domains, locations, full profiles, and operating metrics require an active premium plan.
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Latest news on Moneytap
Complete news archive for MoneyTap
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Frequently Asked Questions about MoneyTap
MoneyTap was founded in 2015.
MoneyTap is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Bala Parthasarathy is the current CEO of MoneyTap. They have also founded this company.
MoneyTap is a funded company, having raised a total of $93.32M across 5 funding rounds to date.
As of Mar 28, 2024, the latest employee count at MoneyTap is 162.
Annual revenue of MoneyTap is $12M as on Mar 31, 2023.
Developer of an app-based personal credit line for consumers. It offers a credit card with the approved credit line that can be used for multiple purposes including wedding loans, education loans, used car loans, debt consolidation loans, medical loans, and more. Users must add the required personal information along with the KYC process. Once verified and approved, the funds are transferred to the registered bank account. The application is available on the Android and iOS platforms.
MoneyTap's top competitors include vCard, GalaxyCard and INDIE by IndusInd Bank.
MoneyTap offers Freo Credit, UPI Services, Insurance Products, and Digital Gold.
MoneyTap has 16 investors. Key investors include Money Forward, Vivriti Capital, Saison Card, Aquiline Capital Partners, and RTP Global.
The valuation of MoneyTap is $128.84M as of Jan 2020.