Digital lending firm LoanTap acquires Unofin

Digital lending platform LoanTap has acquired Unofin, a healthcare-focused fintech startup, to expand its presence in the healthcare finance space. 

With this acquisition, LoanTap plans to use Unofin's expertise in healthcare financing. LoanTap was already in the healthcare finance segment, and this acquisition will enable the company to gain better domain understanding and serve a much larger crowd in the healthcare segment.

Unofin claims to have serviced over 12,000 customers with Rs 120 crore of gross loan disbursals so far. With partnership with 1,600 healthcare service providers in 7 cities, the company has emerged as one of the key players in the healthcare financing industry. 

Led by Satyam Kumar, LoanTap offers loans ranging between Rs 50,000 and Rs 10 lakh with an annual interest of 15-24%. It claims to have facilitated loans worth Rs 1,700 crore for its subsidiaries and technology clients and has two RBI-registered NBFCs subsidiaries.

The Pune-based startup has over 10 clients including some of India’s major banks, non-banking financial companies (NBFCs), payment platforms, and ERP solution providers catering to roughly 2 million micro, small, and medium-sized enterprises (MSMEs).

Last month, LoanTap raised Rs 24 crore ($2.9 million) from global investment institution Lighthouse Canton.

The startup further plans to introduce a range of products such as equipment financing, working capital loans, and term loans to healthcare professionals and institutions.