Fintech company, Lendingkart on July 2 raised a debt funding of Rs 75 crore. The company will use the new funds to originate MSME loans across all states, the company said in a press release.
The fintech startup in the working capital space has raised Rs 25 crores in debt from GMO LLC and Rs 50 crores from Triodos Investment Management via NCDs.
“The newly infused funds will 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 & Founder at Lendingkart.
Founded in 2014 by Lunia, Lendingkart has offices in Ahmedabad, Bengaluru, Mumbai, Gurugram, and has service reach across India. The group is financed by reputed 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 Rs 1050 Crores of equity till date.
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.
GMO LLC provides various payment and financial related solutions and platforms to companies to promote cashless and DX and built payment infrastructure.
Triodos Investment Management, a wholly owned subsidiary of Triodos Bank, invests to generate social and environmental impact alongside a healthy financial return.