Peak XV-backed MoneyTap improves its bottom line

MoneyTap, a fintech startup based in India, has significantly reduced its losses for the financial year ending on March 31, 2024, its latest audited financial statements reveal.

Backed by investors like Peak XV Partners and Credit Saison, the company works with financial institutions to offer consumers collateral-free loans.

MoneyTap offers what is known as the first loss default guarantee. The feature, which is increasingly popular among fintech companies in India, covers a portion of losses incurred by financial institutions in the event of loan defaults.

This item is one of the startup’s biggest expenses, which means keeping it under control will be crucial to its ability to stay afloat.

For more insights into MoneyTap’s performance, check out the rest of the charts below, which will be updated every year.

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