Platform to Showcase Innovative Startups and Tech NewsPlatform to Showcase Innovative Startups and Tech News
    Facebook Twitter Instagram
    Platform to Showcase Innovative Startups and Tech NewsPlatform to Showcase Innovative Startups and Tech News
    Facebook Twitter YouTube
    • Featured Startups
    • Funding News
    • CEO Interviews
    • Startup Resources
    • Inspiring Stories
    • Submit Startup
      • Pitch VCs
    • More
      • Our Team
      • Advertise
      • Write for us
      • Privacy policy
      • Startup listing
      • Steal The Deal
      • Contact
    Platform to Showcase Innovative Startups and Tech NewsPlatform to Showcase Innovative Startups and Tech News
    Home»News»Lendingkart raises $4.7 million in debt funding from a Dutch development bank
    News

    Lendingkart raises $4.7 million in debt funding from a Dutch development bank

    Prashant SharmaBy Prashant SharmaJanuary 11, 2018Updated:October 27, 20202 Mins Read
    Facebook Twitter LinkedIn Email
    Share
    Facebook Twitter LinkedIn Email

    Just 2 weeks after raising $3.8  million in debt from State Bank of India, the Ahmedabad based Fintech startup Lendingkart finances has raised $4.7 million in the first ever foreign debt funding from a Dutch development bank (Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden 0r NV FMO.

    The recently acquired funding will be used by the company to grow their loan book and reach more number of Small and Medium-sized Enterprises. Lendingkart was founded by  Harshvardhan Lunia and Mukul Sachan in 2014. It provides collateral-free loans to small businesses ranging from ranging from Rs 1 lakh to Rs 40 lakh.

    Till date, Lendingkart has disbursed over 20,000 loans to over 13,000 SMEs across 950 cities in India. Its main goal is to provide short-term loans of small sizes. They have designed certain tools that determine their customer’s creditworthiness using machine learning algorithms and big data analytics.

    After the latest funding round, the total amount raised by the company has elevated to around $64 million, most of which comes from non-banking financial companies (NBFCs) such as Aditya Birla Financial Services, IFMR Capital, and Mannapuram Finance. In September 2017, Lendingkart raised around $10.9 million from Sistema Asia Fund as well as existing investors Bertelsmann India Investment, Mayfield India, Saama Capital and others.

    Apart from SBI, private sector banks Kotak Mahindra Bank and Yes Bank have also joined hands with Lendingkart as lenders. In October 2017, Lendingkart announced a partnership with TransUnion CIBIL, a credit information company which allow owners of SMEs to access all the  loans offered by Lendingkart Finance on the TransUnion marketplace platform.

    SME sector has a contribution of over 45% to our nation’s GDP. This is around three times more than that of the corporate sector’s sector. However, still, the sector faces a debt gap of $46 billion.

    featured
    Share. Facebook Twitter LinkedIn Email
    Prashant Sharma
    • Website

    Prashant Sharma is a Delhi based Entrepreneur who spent most of his college days polishing his marketing skills and went for his first business venture at 19. Having tasted failure in his entrepreneurial debut, he turned a Tech-enthusiast, specializing in web technologies later. Join him on Google Plus

    Related Posts

    Instagram accused of Promoting Adult & Sex Content

    June 8, 2023

    Apple acquires AR Hardware Startup Mira

    June 7, 2023

    Apple officially Unveils its Mixed Reality Headset Vision Pro    

    June 6, 2023

    Twitter’s Head of Trust and Safety Ella Irwin Resigns

    June 2, 2023

    Leave A Reply Cancel Reply

    Popular Post
    • Why is one Airpod louder than the other- reason and fixes Why Is One Airpod Louder Than The Other- Reason And Fixes
    • Is Real Estate Investment Trusts a Good Career Path Is Real Estate Investment Trusts a Good Career Path? [Complete Guide]
    • advertisement examples 16 Creative Product Advertisement Examples & Ad Campaigns You Must See
    • Places that hire at 15 Places that Hire at 15 Years – Top Choices for Teenagers
    • Pestel Analysis PESTEL Analysis – What it Means and its 6 Factors Explained
    Category Posts
    • Instagram accused of Promoting Adult & Sex Content
    • can you see who views your videos on facebook Can You See Who Views Your Videos on Facebook: A Comprehensive Analysis
    • how to move apps to sd card How to Move Apps to SD Card
    • how to turn off shuffle on spotify How to Turn Off Shuffle on Spotify
    • why does it say join on facetime in messages Blurry Top Left Screen: Unveiling the Mystery of iPhone Display Anomalies
    Our Partners
    Shopping online for Windows tablet - DHgate
    Platform to Showcase Innovative Startups and Tech News
    Facebook Twitter YouTube
    • Popular Posts
    • Advertise
    • Submit A Startup
    • Privacy policy
    • Disclaimer
    © 2023 Techpluto. Designed by Techpluto.

    Type above and press Enter to search. Press Esc to cancel.

    Catch the latest news from Startup World in your Inbox!
    [email protected]