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OpenTap plans to lend ₹100 crore by Dec. 18

13 September, 2017 3:16 PM
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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.

Also read: How Tata Steel is reversing its sunk cost fallacy


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