OpenTap extends its services in Coimbatore, Salem and Trichy

The company aims at lending close to Rs 25 crores in the ROTN region, spread across 10,000 loans by end of year 2018. With the expansion, OpenTap is now present in Bangalore, Chennai (HQ), Coimbatore, Gobichettipalayam, Nashik, Pondicherry, Pune, Salem, Tirupur and Trichy. 

Senthil Natarajan, Co-founder and CEO of OpenTap said “The opportunities for alternate lending in our country is huge and is definitely set to redefine lending services in India. The ROTN region has approximately 50 Lakh+ people working in the industrial belt. Disbursing 10,000 loans by the year end is just the beginning. We have plans to further widen our presence in this region so we’re able to impact more lives.”

OpenTap was founded in 2015 by a trio of former investment bankers, who spent most of their service years in Wall Street. 

The AltFin startup currently focuses on providing short term credit for the vastly underserved population of the blue-collar workforce, whose monthly income is below Rs 25,000. The startup aims to reach Rs 100 crores and add 40,000 customers by the end of calendar year 2018.