LoanTap presents its innovation-driven model to investors at the 3rd Festival of Innovation at Rashtrapati Bhavan

New Delhi, March 09, 2017:With its superior and innovation-driven business model, LoanTap, a one-of-its-kind fintech platform delivering flexible EMI-free loan products to salaried professionals, was a part of the esteemed ‘3rd Festival of Innovation’. The festival is a unique initiative of the Office of the President of India to recognise, respect and reward grassroots innovations and foster a supportive eco-system for them. Held at Rashtrapati Bhavan, Vikas Kumar, Founder and CTO of LoanTap leveraged the opportunity to pitch his innovative business idea in front of venture capital investors and accelerators.

Held in the month of March at The President’s House, ‘Festival of Innovation’ is an annual event to promote creativity and innovation in India. Its various editions have witnessed participation of multiple global innovation leaders, noble laureates, and visionaries, along with budding entrepreneurs and promising innovators from the country. The initiative is widely hailed as an ingenious solution to promote innovation and create an inclusive social development ecosystem in the country.

A part of the week-long program, Pitch@RB observed the involvement of multiple venture capitalists, start-ups, and Indian market leaders, besides 9 grassroots innovators in the event. The program witnessed unconventional innovations that tackled key problems within the society by various participants. The program was concluded with the closing speech by The President of India, Shri Pranab Mukherjee and it was preceded by Mr. Gopalakrishnan, Co-founder, Infosys and Axilor Ventures.

Vikas Kumar, Founder and CTO, LoanTap said, “It is fascinating to see how people from diverse fields have come up with vibrant and out-of-the-box innovations to address a multitude of problems faced by our society. Being offered the chance to present our start-up idea on such a prestigious platform has been an honour and a result of tireless determination by the entire team at LoanTap. We would like to express our gratitude to India Quotient, CII, and above all to our Hon’ble President Shri Pranab Mukherjee for offering us the dais to pitch our start-up. Witnessing the sheer brilliance of the program, we are confident that the Festival of Innovation will herald the advent of a completely new generation of entrepreneurs, innovators, and business leaders of tomorrow.”

LoanTap is a fintech company that caters to young salaried professionals by providing them hassle-free flexible loan products. The company is known for providing quick access to credit with low-interest rates as well as processing fee. LoanTap’s product portfolio comprises Personal loans, Personal Overdrafts, Advance Salary loans, EMI-free loans, Rental Deposit loans, and Credit Card Takeover loans. Having gained considerable traction within a low period of operation amongst 6 metropolitan cities, the company aims to expand its operations to 10 cities and reach a book size of INR 750 crore within the next three years. Unlike most Fintech companies, LoanTap is not an aggregator platform and directly dispenses Loans through its in-house NBFCs. It uses technology to deliver smart and innovative products for millennials.