Fintech Startup Lendingkart Raises INR 50 Cr Debt Funding To Offer Credit Solutions To MSME
Non-banking finance company (NBFC) and lending tech startup Lendingkart has secured INR 50 Cr in a debt funding round from InCred Capital and Yubi.
Lendingkart has issued non-convertible debentures and market-linked debentures as part of the agreement.
In addition, InCred invested INR 20 Cr in the development, while Yubi invested the remaining INR 30 Cr.
Lendingkart will use the capital to offer on-lending business loans to small and medium-sized businesses.
Lendingkart has raised INR 125 Cr in debt and INR 1,050 Cr in equity, including the current fundraising....
Lendingkart claims to have disbursed over 1.40 Lakh loans to more than 1.2 Lakh MSMEs across India. It further claims to have offered services in over 4000 Indian cities.
In July, Lendingkart secured INR 75 Cr debt funding from GMO LLC and Triodos Investment Management. ..
LendingKart claims to have generated $65 million in the financial year 2021-22.
Its cap table includes FMO, Bertelsmann, Fullerton Financial Holding, Mayfield India, and Saama Capital, among others.
Founded in 2014 by Lunia and Mukul Sachan, the Ahmedabad-based fintech startup has built machine learning and big data-backed tools that help lenders assess the creditworthiness of borrowers and accordingly, offer allied services to them.