Online loans start-up Lendingkart raises $10.5 million

LendingKart will use the funds to increase its loan book and invest in expanding technology and analytical capabilities.


Lendingkart, Online loans start-up has raised $10.5 million from Singapore-based Sistema Asia Fund and existing investors. Bertelsmann India Investment, Mayfield India, Saama Capital, India Quotient and Darrin Capital Management also invested in the latest round.

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Lendingkart Technologies Private Limited is a fin-tech startup in the working capital space. It was founded in 2014 by Lunia and Mukul Sachan.

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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Lendingkart Finance Limited (formerly Aadri Infin Limited), is a non-deposit taking NBFC, providing SME lending in India. 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.

Currently, Lendingkart Finance has its reach over 720 cities and towns in India. It offers collateral-free loans ranging from Rs 50,000 to Rs 10 lakh to small businesses.

“We are excited to have Sistema Asia Fund on board and look forward to further building our relationships with existing investors who continue to bring to the table fresh perspectives and strategic insights on market dynamics of current and future trends,” said Harshvardhan Lunia, co-founder and chief executive, Lendingkart.

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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.

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