Kunal Shah’s Newtap Technologies in talks to raise $50-70 million to push lending business

Kunal Shah-backed Cred is bolstering its credit play as it looks to raise separate capital for its non-banking finance company (NBFC) Newtap Technologies, at least three people in the know told ETtech.

Newtap Technologies, which was incorporated by Shah in 2021, has discussed racking up $50-70 million to help scale its participation and credit exposure to Cred’s user base.