Results · Financial Services

NewTap Finance posts ₹2.4 Cr net profit in FY26

By Startup Enthusiast · 15 August 2026

What they do

NewTap Finance is a digital non-banking financial company (NBFC) that offers short-term personal loans and loans against mutual funds to CRED users

It reported a net profit of ₹2.4 crore in FY26, up from ₹1 crore in FY25, with total income surging 116% to ₹259 crore

Its managed assets under management (AUM) reached ₹4,582 crore, growing at a compound annual rate of ~156% since FY23

NewTap Finance earned a net profit of ₹2.4 crore in FY26, more than double the ₹1 crore it made in FY25.
Its total income (excluding interest expense) jumped 116% to ₹259 crore from ₹120 crore in FY25.
By the end of FY26, the company's managed assets under management (AUM) reached ₹4,582 crore.
AUM grew at a compound annual growth rate (CAGR) of ~156% between FY23 and FY26.
Of the total AUM, 81% was off-book under non-first-loss default guarantee (FLDG) deals, and 19% sat on its balance sheet.
CRED put in ₹56.4 crore in equity and ₹80 crore in subordinated debt into NewTap.
CRISIL upgraded NewTap's rating to A for bank loans and non-convertible debentures (NCDs).
The rating upgrade should help NewTap access more diverse and cheaper funding sources.

NewTap is a digitally native NBFC regulated under RBI's Digital Lending Guidelines.
Its asset quality is a key monitorable because it focuses on unsecured lending, though gross Stage 3 assets were just 0.94% in FY26.
The company's return on assets rose to 0.25% from 0.15% in FY25, meaning it earned more profit per rupee of assets.
CRED acts as the lending service provider, handling customer acquisition and tech infrastructure, while NewTap handles underwriting and compliance.

NewTap provides short-term personal loans to people who use CRED.
It also gives personal loans and loans against mutual funds through digital channels to salaried and self-employed borrowers.
The company operates across 23 states and four Union Territories.
About 90% of its AUM comes from borrowers with credit scores above 750.
Its collection efficiency averaged over 97% in the past 12 months.
NewTap's on-book AUM as of March 31, 2026, was ₹859 crore.
Its net worth stood at ₹225 crore, and its capital adequacy ratio was 24.4% as of March 31, 2026.

CRED (existing) — CRED holds a **25.2%** stake in NewTap and provides corporate guarantees for all external debt raised by NewTap.