Voice and picture based social startup VoxWeb attracts USD 1 million for seed round
Founders: Yash Mishra
Founded in: 2014
Financing status: USD 1 million for seed round in 2017
VoxWeb was founded in 2015 by Yash Mishra, who had worked as an analyst with JP Morgan.
The startup developed a social networking application that allows users to attach an 11-second audio clip to any image. Its mobile application is available on both iOS and Android.
Founder Yash Mishra shared that the company wants to create the first ever global consumer internet product from India, and the app has already gotten users from 97 countries. The Mumbai-based startup is focused on designing and developing refreshingly new products by adding a new dimension to social media consumption around the world.
The newly raised investment will be used to strengthen technologies and add innovative features to cater to the new generation of social media users. With the fund, the company will also focus on increasing its user base, and may also spend on building its brand in colleges.
Online fintech lending platform LoanTap raises USD 4 million in Series B
Founders: Satyam Kumar, Vikas Kumar
Founded in: 2016
Financing status: USD 4 million Series B round in 2017
Online fintech lending startup LoanTap has raised USD 4 million for its Series B financing round. This round is a mix of equity and debt. The equity infusion was led by Kae Capital with participation from its existing investors including India Quotient and high net worth individuals (HNIs). The debt was raised from non-banking financial companies (NBFCs) such as IFMR and MAS Financial Services.
LoanTap was founded in 2016 by former banking professional Satyam Kumar and former tech professional Vikas Kumar. The Mumbai-based startup is an online personal loan company. It follows an agency-based collection model and allows users to make single and bulk payments of loans.
LoanTap delivers flexible loan solutions to salaried professionals. The startup offers the users choices of custom made loan products from an array of offerings by its NBFC & banking partners. These products include overdraft facility, credit card takeover loans, rental security deposit loans, advance salary loans, and consumer durable loans. These products are custom made offerings on LoanTap’s platform with a fully transparent pricing structure made available.
The startup will use the newly raised investment to enhance collection features in its software, other than reaching out to business hubs, and tier two and three cities in India.
(Top photo from Flickr)