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Lendingkart Garners INR 319 Crore from Existing Investors

The Ahmedabad-based Lendingkart has raised this capital from existing investors
BY BEx Bureau
BusinessEx
May 20, 2020

MSME-focussed lending platform, Lendingkart Technologies Pvt. Ltd has garnered INR 319 crore in Series D funding round.

The Ahmedabad-based Lendingkart has raised this capital from existing investors, VC Circle reported citing the company's statement.

The investors who participated in the company's funding round include Fullerton Financial Holdings, Bertelsmann India Investments, Sistema Asia Fund and India Quotient, reported the cited media agency.

In August last year, a share of the current investment was reported, when the firm pronounced a funding of INR 212 crore. The company has raised more than INR 1,050 crore in equity capital from investment companies to date.

It will be deploying the funds to increase its lending base and expand its reach to MSMEs. The capital will also be employed to improve its technological and analytical infrastructure.

"During these unprecedented times, MSMES that are the backbone of the economy have significantly suffered grappling with varied economic uncertainties," Lunia said in an interview with the cited media agency.

Harshvardhan Lunia and Mukul Sachan Lendingkart established the company in 2014. It currently administers two companies Lendingkart Technologies Pvt. Ltd and Lendingkart Finance.

Before this funding round, the lending company had collected equity funding in February 2018. It had secured INR 565 crore in Series C funding round.

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