Lendingkart Raises INR 75 crores in Debt from GMO LLC and Triodos Investment
Founded in 2014, the startup claims to have disbursed more than 10,000 crore loans to more than 1.45 lakh MSMEs to date
Fintech startup Lendingkart has raised a total debt funding of 75 crores, INR 25 crores in debt from GMO LLC and INR 50 crores from Triodos Investment Management via NCDs.
The company will use the new funds to originate MSME loans across all states with credit decisions in a live environment using its in-house built origination engine 'xlr8' and 'zero touch' features.
"The newly infused funds will enable us to disburse working capital loans to underserved MSME customers through our platform. Additionally, it will also help us in increasing our reach and service more pin codes across the country. It is our constant endeavor to empower the MSMEs and small businesses and we will continue to bridge the financial gaps for small businesses," said Harshvardhan Lunia, CEO and founder, Lendingkart.
Founded in 2014 by Harshvardhan Lunia, Lendingkart has offices in Ahmedabad, Bengaluru, Mumbai, Gurugram, and has service reach across India. The group is financed by international investors like Fullerton Financial Holding (FFH) (100% subsidiary of Singapore Sovereign Fund Temasek Holdings), Bertelsmann, Mayfield India, Saama Capital, Sistema Asia, India Quotient, and others and has raised around INR 1050 Crores of equity till date.
Lendingkart Group is a fintech startup in the working capital space. The Company has developed technology tools based on big data analysis and machine learning algorithms which facilitate lenders to evaluate borrower's creditworthiness and provide other related services. Since its inception, it claims to have evaluated nearly half a million applications, disbursing over 1,40,000 loans to more than 1,20,000 MSMEs in more than 4000 cities and towns across all states and union territories of India.