online lending platform

Avail finance, an online lending platform based in Bengaluru recently raised $17.2 Mn in a Series A funding round led by Matrix Partners which comprises of both debt and equity. This round of funding also saw the participation of Bhavish Aggarwal and Ankit Bhati, Ola’s co-founders; Binny Bansal, co-founder & CEO of Flipkart; Kunal Shah, founder of Freecharge; and Manish Patel, founder, and CEO of Mswipe. “Consumer lending to the blue-collared workforce is a large, untapped and hard to solve opportunity. We are impressed by Avail’s differentiated sourcing and underwriting strategy and are privileged to partner with Ankush and Tushar on their journey. We believe it’s still early days of the India Fintech story and will continue to invest in the space”, said Vikram Vaidyanathan, Man...

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...

Tag: online lending platform

Bengaluru’s Lending Platform Raises 17.2 Mn From Matrix Partners

Lendingkart Raises Rs 25 Cr. In Debt Funding From SBI