Vikas Kumar, co-founder of LoanTap Financial Technologies Pvt. Ltd, has passed away in an accident. He was traveling in Bengaluru when the incident occurred. It is a heartbreaking news for the Indian startup community.
The company confirmed the news to VCCircle on Thursday, but details about the accident remain undisclosed. Kumar co-founded the Pune-based digital lending startup with Satyam Kumar.
LoanTap paid tribute to its co-founder, stating that the organization will continue to be guided by his principles. The company said, “We remain guided by his enduring principles. Under the foundation he built, the organization will continue to pursue its vision with the same dedication, integrity, and purpose that he exemplified.”
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The recent passing of Vikas Kumar adds to a somber trend in the startup ecosystem, where several founders and investors have met untimely deaths. In recent months, notable losses include Amit Banerji, founder of Table Space, who died of a heart attack in January at 45, and Rohan Mirchandani, co-founder of Epigamia, who also succumbed to a heart attack. Other losses include Rohan Malhotra, co-founder of Good Capital, who passed away at 44 last year, and Ambareesh Murty, co-founder of Pepperfry, who died at 51 in 2023.
Vikas Kumar co-founded LoanTap Financial in 2016, where he served as the company’s Chief Technology Officer (CTO). His co-founder, Satyam Kumar, is currently the CEO. LoanTap’s investors include venture capital firms such as 3one4 Capital, Kae Capital, India Quotient, Avaana Capital, and Tuscan Ventures.
Before founding LoanTap, Vikas Kumar co-founded and led SME Networks Pvt Ltd as its Chief Technology Officer for six years. The company specialized in customer acquisition platforms.
Vikas Kumar’s entrepreneurial journey began with Brainvisa, an e-learning company he co-founded in 2000, where he served as CTO for nearly a decade. LoanTap was his third venture, preceded by SME Networks, another company he co-founded and led as CTO. Before venturing into entrepreneurship, Kumar worked at Infosys from 1998 to 2000 and holds a degree from IIM Lucknow.
LoanTap Financial provides financial services through its subsidiaries. It offers personal loans to salaried professionals earning ₹30,000 and above via LoanTap Credit Products Pvt. Ltd. Additionally, the company extends credit to micro, small, and medium enterprises (MSMEs) through its unit I-Loan Credit Pvt. Ltd.
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