MoneyTap, India’s first App-Based Credit Line, has been awarded as the leading FinTech company, in the lending category, at PICUP Fintech 2017. PICUP Fintech is an event by FICCI to recognize the best innovations from Fintech companies in diverse areas like Wealthtech, Lending, Payments, Artificial Intelligence and Robotics. The event witnessed diverse groups of FinTech players, leading bankers, technology experts and policy makers. The event was organized by a joint effort of NASSCOM, FICCI, IBA and BCG in Mumbai.
Six companies from each category were shortlisted after applying for a product demonstration. MoneyTap, Faircent, Cropin SmartRisk, GraduFund, FlexiLoans, FinTechLabs were the six shortlisted companies in the Lending category. These companies presented their latest innovations and overall business to the audience and industry jury members comprising of Sunny KP-General Manager, Federal Bank, Jayant Kshirsagar-Director (Marketing), SAP and Ashish Garg-Partner, BCG. MoneyTap was the top company to be selected by the jury members’ basis the presentation and product demo.
Kunal Varma, Co-founder, MoneyTap said
We feel honored to be recognised as the leading FinTech company at PICUP Fintech 2017. It gives us immense pleasure to be recognised by the top officials of the industry. This recognition gives a boost to our motto of providing a convenient credit line to the middle income group of our country and making the availability of money easier and faster.
MoneyTap introduced the concept of a Credit Line [personal line of credit for consumers] for the first time in India when it launched in September 2016. The ‘Credit Line’ means that the bank will issue a limit of up to INR 5 lakhs, without any collateral or charging any interest. Against this limit, using the MoneyTap app, consumers can borrow as little as Rs. 3000 or as much as Rs. 5 lakhs and repay it as EMIs from 2 months to 3 years.
The MoneyTap app is available on Android Playstore to all salaried employees, living in Ahmedabad, Vadodara, Delhi NCR, Mumbai, Bengaluru, Pune, Hyderabad and Chennai. The company is continuously expanding across India.
MoneyTap is a Bangalore-based fintech startup, founded by serial entrepreneurs Bala Parthasarathy, Anuj Kacker & Kunal Varma, who are IIT/ISB alumni. Bala has co-founded multiple startups in Silicon Valley including Snapfish [sold to Hewlett Packard], which he helped grow to 100M users and USD 300M in revenue. MoneyTap works in very close partnerships with various banks and other financial institutions to make the process painless and on-app. For more details, please visit MoneyTap