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Lendingkart Technologies raises additional ₹21 crore in equity

Digital lender Lendingkart Technologies Pvt Ltd has raised another fresh equity round of 21 crore with Sistema Asia Fund (SAF), bringing the total tally to 233 crore ($33 million) so far. With this round, total equity raised by Lendingkart stands at around $146 million.

In a statement, Harshvardhan Lunia, co-founder and managing director of Lendingkart Technologies, said: “The latest funding round with the help of existing partners have signalled a strong support and trust in Lendingkart’s vision of financial inclusion and digital accessibility for everyone. Sistema is one of our valued partner and supporter and we are very happy to join hands for the growth trajectory we have laid out for ourselves.”

Last week, Lendingkart had announced an equity funding of 212 crore ($30 million) led by existing investors, including Fullerton Financial Holdings Pte Ltd (“FFH”), Bertelsmann India Investments and India Quotient, signalling a strong support and trust in Lendingkart’s vision of financial inclusion and digital accessibility for everyone.

Since its inception, Lendingkart Finance (the NBFC arm of the Lendingkart Group) has evaluated nearly half a million applications, disbursing 60,000+ loans to more than 55,000 MSMEs in 1300+ cities across all 29 states and union territories, making it the NBFC with the largest geographical footprint in the country.

Source: Livemint