Financial technology firm Lendingkart Technologies on Friday said it has raised a fresh equity funding of ₹212 crore (US $30 million) led by existing investors, including Fullerton Financial Holdings Pte Ltd (FFH), Bertelsmann India Investments and India Quotient.
With this funding round, the total equity raised by Lendingkart stands at USD 143 million, a statement said. In June, Lendingkart marked one of the largest startup venture debt transactions in India when it raised ₹ 80 crore from Alteria Capital, a Mumbai-based Venture Debt fund.
“The funding will be used to expand lending bases, deepen Lendingkart Group’s reach to small and underserved micro enterprises and further strengthen its technological and analytics capabilities,” it added.
Credit Suisse acted as the exclusive financial advisor to Lendingkart Technologies.
“This equity will help us meet the growth opportunities we are seeing. Micro and small businesses represent a vibrant yet underserved segment of the Indian economy,” Lendingkart Technologies co-founder and Managing Director Harshvardhan Lunia said.
Lendingkart Finance, the NBFC arm of Lendingkart Group, has disbursed over 60,000 loans to more than 55,000 MSMEs in 1,300 cities. PTI SR