Eyes customer acquisition to scale up
OpenTap, a fintech company, is planning to lend short term loans worth ₹100 crore by December 2018, said a top official.
“The journey started some 24 months ago and in the trial period leading up to December 2016, we lent ₹30 lakh,” said Senthil Natarajan, chief executive officer. “Our goal is to scale up our business to touch ₹100 crore by December 2018.”
As on date, it has provided credit worth ₹3 crore to 1,200 beneficiaries.
Asked how confident they were in scaling up from ₹3 crore to ₹100 crore, he said: “We can easily achieve it mainly through customer acquisition. It is about ₹8 crore per month.