India's Lendingkart raises $30m Series D

Lendingkart provides a range of unsecured working capital loans and other financing options for micro, small, and medium-sized enterprises (MSMEs) in India. The fintech arm operates with the company’s non-banking finance company (NBFC), Lendingkart Finance, to create loans and handle credit checks.

Since its founding in 2014, Lendingkart claims to have disbursed more than 60,000 loans to 55,000 small businesses across India. With a presence in all 29 of the country’s states and union territories, the company bills itself as having the largest geographical footprint of any NBFC in India.

“Over the past year, Lendingkart’s business has seen robust growth and continues to exhibit great potential,” said Yeo Hong Ping, president of Fullerton. “We are delighted to continue partnering with Lendingkart who has been at the forefront of making working capital digitally accessible for MSMEs, as India continues its journey towards becoming a digitally enabled country.”

The latest investment brings the total equity raised by Lendingkart to $143 million, according to a statement. Fullerton, Bertelsmann, and India Quotient all participated in the company’s $87 million Series C round last year. Lendingkart has also raised a significant amount in debt from investors such as venture debt provider Alteria Capital, which committed INR800 million to the company earlier this year, and Indian commercial lender Yes Bank.

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• Topics
• South Asia
• Financials
• Technology
• Expansion
• India
• Fullerton Fund Management
• Bertelsmann Asia Investments
• Financial Services
• TMT