Fintech company Lendingkart raises Rs 75 crore in debt funding from GMO LLC, Triodos Investment
According to Economics Times Lendingkart raises 75 crore Fintech company Lendingkart on Saturday announced it has raised debt funding of Rs 75 crore from GMO LLC and Triodos Investment.
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| Cover Image of Fintech company Lendingkart raises Rs 75 crore in debt funding from GMO LLC, Triodos Investment |
Why Fintech company Lendingkart raises Rs 75 crore in debt funding ?
Lendingkart will use the funds raised for disbursing more working capital loans to underserved MSMEs and expand its operations.
The company will use the funds to originate MSME (micro, small and medium enterprises) loans across all states with credit decisions in a live environment using in-house built origination engine 'xlr8' and 'zero touch' features, according to a statement.
"Lendingkart...raised a total debt funding of Rs 75 crore, Rs 25 crores in debt from GMO LLC.
About Lendingkart Company
LENDINGKART Technologies Private Limited started in 2014 by Harshvardhan Lunia is a fin-tech startup in the working capital space. The Company has developed technology tools based on big data analysis which facilitates lenders to evaluate borrower’s credit worthiness and provides other related services.
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| Image of Harshvardhan Lunia Founder & CEO at Lendingkart |Image Source : |
Who is Harshvardhan lunia ?
Harshvardhan Lunia
Co-Founder and CEO (Lendingkart)
Harshvardhan Mindset : - “I create, I learn, I grow, I am an entrepreneur“
Harshvardhan drives the primary aspect of business – designing innovative credit solutions and delivering them in the most simple and efficient manner to SMB’s.
He started his career with large private sector and multinational banks in their small loan divisions. Early in his career he was intrigued by passion of small business owners who inspite of being credit worthy were not served by existing lenders.
Credit decisions in banks take months. His vision is to implement Big data credit scoring with analytics and artificial intelligence.
He is a Chartered Accountant and pursued his Post Graduation from ISB (Indian School of Business, Hyderabad). In his free time, he loves walking and exploring the world with his wife.
LENDINGKART Finance Limited (formerly Aadri Infin Limited), is a non-deposit taking NBFC, providing SME lending in India.
Lendingkart Team
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| Image of Lendingkart Team | Image Source : |
The Company aims to transform small business lending by making it convenient for SMEs to access credit easily. The Company uses technology and analytics tools, analyzing thousands of data points from various data sources to assess the creditworthiness of small businesses rapidly and accurately.
LENDINGKART Finance Limited, unlike banks and other NBFCs,do not focus on vendor’s old records (Past Financial Statements & Income Tax returns) to evaluate the credit risk profile of a potential client.
The NBFC focuses on the client's current year’s cash flows and business growth. The objective is to make capital funds available at finger tips so that entrepreneurs can focus on business instead of worrying about gaps in their cash-flows.
Currently based in Ahmedabad, Bangalore and Mumbai but we serve across India.
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