Lendingkart, FinTech SME lender, has raised an equity round of around Rs 319 crore in its series D round. The funding round was conducted in sync with the existing investors such as Fullerton Financial Holdings Pte Ltd, Bertelsmann India Investments, Sistema Asia Fund & India Quotient.
So far, Lendingkart has successfully raised Rs 1050 crore equity capital from investors and the current funding will be initiated in a bid to broaden the base and reach out to more small and underserved MSMEs, and to further fortify the company’s tech-driven and analytical capabilities.
Harshvardhan Lunia, Co-Founder & MD at Lendingkart said, “The fresh round of equity funding reaffirms the support of our investors towards the company, as well as the vast potential of the digital lending industry.”
Lunia adds, “The outbreak of COVID-19 and the resultant slowdown has had a tremendous impact on the economy. During these unprecedented times, MSMES who are the backbone of the economy have significantly suffered grappling with varied economic uncertainties. The fresh round of funding will play a pivotal role in aiding us to help these impacted MSMEs to ensure business continuity amidst the ongoing crisis”.