November 30, 2022
FinTech Journey Of Success: Ahmedabad-based online financing company, Lendingkart

FinTech Journey Of Success: Ahmedabad-based online financing company, Lendingkart

Lendingkart Technologies Private Limited is an online lender that offers working capital (WC) loans to entrepreneurs and small-scale enterprises. The firm assesses its clients’ businesses using big data scoring and analytics. A tiny but dedicated group of techies, data scientists, and bankers is working to change how small businesses are financed.

“Business Loans Bole Toh Sirf Lendingkart”

“Empowering Businesses All Over India”

“On A Mission To Simplify Finance For MSMEs”

Company Overview: 

  • Lendingkart was founded in the year 2014.
  • Headquartered in Ahmedabad, Gujrat, India.
  • Founders:
    • Harshvardhan Lunia, as the Chief Executive Officer (CEO); 
    • Mukul Sachan;
  • Board of Directors:
    • Vikram Godse;
  • Team:
    • Sujoy Golan, as the VP – Marketing;
    • Ahsan Javed, as the VP of Technology;
    • Uday Sinha, as the VP – Business Development / Partnerships;
    • Giridhar Yasa, as the Chief Technology Officer;
    • Abhishek Singh, as the Chief Analytics Officer;
  • Lendingkart acquired KountMoney on October 18, 2016.
  • The firm has had fifteen fundraising rounds, totalling around 279.2 Million US Dollars.
  • Expertise:
    • Instant working capital (WC);
    • Automated Credit Decisions;  
    • Financing;
    • Data Analytics; 
    • Lending; 
    • Business Loans;
    • Small business loans;

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Fundraising Rounds and Investors:

  • In July 2015, the company had its Series A round of funding, which raised around 10 Million US Dollars. The investors of this round were:
    • US-based Venture Capital (VC) and private equity firm Mayfield Fund;
    • Bangalore-based Venture Capital (VC) firm Saama Capital;
  • In June 2016, the company had its Series B round of funding, which raised around 32 Million US Dollars. The investors of this round were:
    • US-based Venture Capital (VC) and private equity firm Mayfield Fund;
    • Bangalore-based Venture Capital (VC) firm Saama Capital;
    • Mumbai-based early-stage investor, India Quotient;
    • The Netherlands-based investment firm Bertelsmann India Investment;
    • The investment firm, Darrin Capital Management;
  • In April 2017, the company had its Debt funding round, which raised around 4.7 Million US Dollars. The investor of this round was:
    • The Chennai-based investment firm, Anicut Capital;
  • In June 2017, the company had its Debt funding round, which raised around 7.8 Million US Dollars. The investor of this round was:
    • Mumbai-based bank Yes Bank Limited;
  • In August 2017, the company had its Debt funding round, which raised around 10 Million US Dollars. The investor of this round was:
    • Mumbai-based financial and investment service provider Tata Capital Limited;
  • In September 2017, the company had its Late VC funding round, which raised around 10.5 Million US Dollars. The investors of this round were:
    • Singapore-based Venture Capital (VC) and private equity, Sistema Asia Capital;
    • US-based Venture Capital (VC) and private equity firm Mayfield Fund;
    • Bangalore-based Venture Capital (VC) firm Saama Capital;
    • Mumbai-based early-stage investor, India Quotient;
    • The Netherlands-based investment firm Bertelsmann India Investment;
    • The investment firm, Darrin Capital Management;
  • In December 2017, the company had its Debt funding round, which raised around 3.8 Million US Dollars. The investor of this round was:
    • Indian public sector bank MNC, State Bank of India;
  • In February 2018, the company had its Series C round of funding, which raised around 87.7 Million US Dollars. The investor of this round was:
    • Singapore-based financial advisory service firm Fullerton Financial Holdings;
  • In August 2019, the company had its Series D round of funding, which raised around 30 Million US Dollars. The investors of this round were:
    • Mumbai-based early-stage investor, India Quotient;
    • A Netherlands-based investment firm Bertelsmann India Investment;
    • Singapore-based financial advisory service firm Fullerton Financial Holdings;
  • In May 2020, the company had another Series D round of funding, which raised around 11.4 Million US Dollars. The investors of this round were:
    • The Netherlands-based investment firm Bertelsmann India Investment;
    • Singapore-based Venture Capital (VC) and private equity, Sistema Asia Capital;
    • Mumbai-based early-stage investor, India Quotient;
    • Singapore-based financial advisory service firm Fullerton Financial Holdings;
  • In August 2020, the company had its Debt funding round, which raised around 16.1 Million US Dollars. The investors of this round were:
    • Indian public sector bank MNC, State Bank of India;
    • Kerala-based private sector bank, Catholic Syrian Bank Limited;
    • Indian public sector bank, Bank of Maharashtra;
    • The Mumbai-based financial institution Axis Trustee Services Limited;
  • In April 2021, the company had its Debt funding round, which raised around 15 Million US Dollars. The investor of this round was:
    • The Netherlands-based financial investment firm FMO;
  • In January 2022, the company had its Debt funding round, which raised around 6 Million US Dollars. The investor of this round was:
    • Switzerland-based asset manager, BlueOrchard Finance;
  • In July 2022, the company had its Debt funding round, which raised around 6.3 Million US Dollars. The investor of this round was:
    • Mumbai-based bank Yes Bank Limited;

By making it simple for Small and Medium-sized Enterprises (SMEs) to acquire loans, Lendingkart seeks to revolutionize small business lending. The firm employs tech and analytical tools to analyze 1000s of data points from different sources to quickly and effectively determine the creditworthiness of small-scale enterprises.

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