Fintech Startup Lendingkart Raised INR 50 Cr in Debt Funding to provide credit solutions to MSMEs


InCred infused INR 20 Cr to Lendingkart while Yubi put in the rest of INR 30 Cr

Lendingkart will make use of the capital to provide business loans to small and medium enterprises.

In addition to the ongoing fundraising, Lendingkart has raised a total of INR 125 crore in debt, and INR 1,050 crore in equity

A non-banking financing firm (NBFC) and the lending tech startup Lendingkart has obtained INR 50 crore in a round of debt financing with InCred Capital and Yubi.

In connection with the deal, Lendingkart has issued non-convertible debentures as well as market-linked debentures. Additionally, InCred infused INR 20 Cr to the startup, and Yubi invested the remainder of INR 30 crore.

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Lendingkart will make use of capital to provide on-lending business loans to medium-sized and small enterprises.

In addition to the ongoing fundraising, Lendingkart has raised a total of INR 125 crore in debt, and INR 1,050 Cr of equity.

“The new funds will assist us in reaching out to entrepreneurs, and provide financial assistance to their businesses. With more medium and small enterprises gaining traction and the vision of Aatmanirbhar Bharat and the $5 trillion economy could become realization,” said Harshvardhan Lunia Co-founder and CEO of Lendingkart.

The company was established in 2014 in 2014 by Lunia And Mukul Sachan in 2014, the Ahmedabad-based fintech firm has created algorithms for machine learning, as well as large data tools to help lenders evaluate the creditworthiness of the borrowers and consequently, offer other services to the borrowers.

“With the steady growth and a steadfast dedication to providing working capital loans to small-scale companies through its platform, Lendingkart empowers MSMEs across the nation and enable them to build the most successful businesses while filling the financial gap,” Lunia added.

Lendingkart says it has given more than 1.40 Lakh loans to more than 1.2 Lakh MSMEs across India. It also affirms that it has offered services to more than 4000 Indian cities.

The month of July was when Lendingkart obtained INR 75 crore in debt financing through GMO LLC and Triodos Investment Management.

In the years 2021-22 LendingKart asserts that it generated a profit of $65 million. The company’s cap table contains FMO, Bertelsmann, Fullerton Financial Holding, Mayfield India as well as Saama Capital, among others.

In the fintech lending market It will be competing against such companies as Aye Finance, ARTH, and Kinara Capital.

According to an Economic Pitch  report that the Indian fintech market is predicted to be an $1.3 trillion market by 2025. It is projected to grow by 31% between 2021 and 2025. Of this, lending technology will be a major contributor to 47 percent ($616 billion) in 2025.

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