Sunday, December 22

Tag: lendingkart

Lendingkart raises $40 Million in equity funding
19May By PriyankaNo Comments
FUNDING

Lendingkart raises $40 Million in equity funding

Lendingkart Technologies raises $40 million (about Rs 320 crore) in an equity funding round led by existing investors including Fullerton Financial Holdings Pte Ltd (FFH), Bertelsmann India Investments, Sistema Asia Fund and IndiaQuotient. The series D round comprised two tranches INR 233 crore as part of D1, and INR 86.24 crores in D2 fund-raise, according to a company statement. Lendingkart has raised over Rs 1,050 crore of equity capital from investors till date. This funding will be deployed to expand the company's lending base and further reach out to small and underserved micro and small enterprises, and to further strengthen the company's technological and analytics capabilities, the company said. "The fresh round of equity funding reaffirms the support of our investors ...
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Lendingkart Raises $2.95 Million from Sistema Asia Fund
16Aug By PriyankaNo Comments
FUNDING

Lendingkart Raises $2.95 Million from Sistema Asia Fund

India based Fintech company Lendingkart Technologies has raised $2.95 million in fresh equity funding from Sistema Asia Fund (SAF). With the latest infusion, the equity funding raised by Lendingkart stands at a total of USD 146 million, a statement said. The valuation of the company was not disclosed. "The latest funding round with the help of the existing partners have signaled strong support and trust in Lendingkart's vision of financial inclusion and digital accessibility for everyone," Lendingkart Technologies co-founder and Managing Director Harshvardhan Lunia said. Last week, Lendingkart Technologies had said it has received an equity funding of USD 30 million (Rs 212 crores) from Fullerton Financial Holdings, Bertelsmann India Investments, and India Quotient. In the cur...
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Fintech Platform Lendingkart Raises $30 Million
9Aug By PriyankaNo Comments
FUNDING

Fintech Platform Lendingkart Raises $30 Million

India based Fintech firm Lendingkart has raised a fresh equity funding of USD 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. "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," company said. 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 Tech...
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Lendingkart Raises 565 Crore Equity Funding
13Feb By NitishNo Comments
FUNDING

Lendingkart Raises 565 Crore Equity Funding

Ahemdabad based India's leading fintech platform Lendingkart raises $87 million (565 crore) from Singapore based investment firm Fullerton Financial Holdings. Fullerton Financial Holdings is a subsidiary of Temasek Holdings (Private) Limited. Lensingkart has also signed a MoU (Memorandum of Understanding) with Fullerton India Capital, a fully owned subsidiary of Fullerton Holdings regarding creating potential initiatives to support their respective businesses. Funding So Far- Lendingkart has raised total $173 million (1,129 Crore) funding in debt and equity form. 1) Lendingkart Raises Rs 30 Cr From Dutch Development Bank 2) Lendingkart Raises Rs 25 Cr. In Debt Funding From SBI 3) Lendingkart's NBFC Arm Bags $25M From A Clutch Of Investors 4) Ahemdabad Based Lendingkart Rai...
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Lendingkart Raises Rs 30 Cr From Dutch Development Bank
10Jan By PriyankaNo Comments
FUNDING

Lendingkart Raises Rs 30 Cr From Dutch Development Bank

Lendingkart Finance on Tuesday said it has raised Rs 30 crore in non-convertible debentures (NCDs) from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV (FMO), a Dutch development bank that invests in growth and frontier markets. This new influx of debt funds will be used towards growing the loan book and expanding the reach of Lendingkart Finance across SME industries, Lendingkart said in a statement. As of today, Lendingkart Finance has disbursed over 20,000 loans to more than 13,000 SMEs across 23 sectors. "With a committed portfolio of 9.8 billion euros, FMO is one of the larger bilateral private sector development banks globally... This being our first foreign debt raise will open avenues for Lendingkart Finance's future foreign debt funding as well," Lendin...
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Lendingkart Raises Rs 25 Cr. In Debt Funding From SBI
27Dec By PriyankaNo Comments
FUNDING

Lendingkart Raises Rs 25 Cr. In Debt Funding From SBI

Online money lending platform Lendingkart has recently raised Rs 25 crore debt funding from State Bank of India. In a press release, Lendingkart said that the funding is in the form of cash credit facility which will allow the company to draw the amount over separate tranches as and when required. This investment also marks the entry of public sector banks in a rush to reach out to more borrowers by backing up startups in the field. Earlier, Lendingkart got backed up by private banks- Yes Bank and Kotak Mahindra. “We feel extremely privileged to have partnered with India’s largest bank which also shares the same vision of supporting the unbanked SME (small and medium enterprise) sector,” said Harshvardhan Lunia, co-founder and chief executive officer at Lendingkart. “SBI, being...
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Lendingkart’s NBFC Arm Bags $25M From A Clutch Of Investors
30Oct By RishabhNo Comments
FUNDING

Lendingkart’s NBFC Arm Bags $25M From A Clutch Of Investors

Lendingkart Finance Ltd, the NBFC arm of fintech startup Lendingkart has raised around $25 million through debt and equity funding. The company raised this sum between August and September this year in multiple tranches from financial institutions and NBFCs including IFMR Capital, Capital First, Tata Capital Financial Services Ltd (TCFSl) and Manappuram Finance Ltd, as per the report by VCCircle. Earlier in September, Lendingkart raised Rs 70 crore in equity funds from Singapore based-  Sistema Asia Fund and its existing investors Bertelsmann India, Mayfield Capital, Saama Capital, Darrin Capital, India Quotient. Out of its current funding, the NBFC raise $9.2 million from its tech and digital marketing arm Lendingkart Technologies Ltd through debt of Rs 20 crore and an equity inf...
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Fintech Startup Lendingkart Expected to Disburse Rs 1,600 Cr Loan By 2017 End
19Dec By NitishNo Comments
News

Fintech Startup Lendingkart Expected to Disburse Rs 1,600 Cr Loan By 2017 End

Fintech startup Lendingkart Group expects an exponential rise in working capital loan demand from small businesses and estimates to disburse Rs 1,600 crore by 2017-end through its NBFC arm Lendingkart Finance, a company official said. The company, which caters to small businesses generating revenues of Rs 1-15 lakh per month, disburses loan through digital channel, Lendingkart Group Co-Founder and CEO Harshvardhan Lunia said. "As a platform that leverages the power of mobile and web technologies, we have no geographical constraints. We have disbursed loans of Rs 400 crore since inception in 2014. In next one year, we are looking at a growth of four times at Rs 1,600 crore," Lunia said. Simple processes and flexible offerings make it a lender of choice, hence a multi-fold growth ov...
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Flipkart Will Provide Rs 75 Cr Loans to Sellers
25Aug By AnkitaNo Comments
News

Flipkart Will Provide Rs 75 Cr Loans to Sellers

E-commerce major Flipkart, after facilitating loans worth Rs 125 crore for sellers on its platform in last one year, is looking to help merchants avail credit facility of over Rs 75 crore in the next few months. The Bengaluru-based firm, which has partnered eight financial institutions including Axis Bank, Bajaj Finserv, NeoGrowth, Lendingkart and Capital First to offer collateral-free loans to sellers on its platform, has already disbursed Rs 125 crore worth of loans in the last one year. Under the Flipkart Growth Capital programme, launched in July last year, Flipkart sellers can avail loans with interest rates starting at 11.40 per cent, Flipkart said in a statement. The programme had received over 3,000 applications in the initial months of the launch and over 800 loans have b...
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Lendingkart Raises 205 Cr in Series B
28Jun By NitishNo Comments
FUNDING

Lendingkart Raises 205 Cr in Series B

Online loan platform Lendingkart Group today said it has raised Rs 205 crore (USD 32 million) in second round of funding led by Bertelsmann India Investments. The fresh round of funding also saw participation from Darrin Capital Management and existing investors - Mayfield India, Saama Capital and India Quotient, it added. With this, the company has raised Rs 260 crore (USD 41 million) till date. "With Bertelsmann India Investments (BII) onboard, we look forward to leveraging its deep understanding of global financial products as well as Internet businesses," Lendingkart Group co-founder and CEO Harshvardhan Lunia said in a statement. Of the Rs 205 crore funding, about Rs 128 crore (USD 20 million) was raised as equity and about Rs 77 crore (USD 12 million) as debt in the second round or...
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