The company said that this funding will be used for further lending activities for MSMEs.
Harshvardhan Lunia, Founder and CEO, Lendingkart Group, said in a statement, “We see this investment as a testament to our unwavering dedication to supporting Indian MSMEs. It furthers our efforts to democratize access to finance and champion entrepreneurship. "There is validation of the mission."
He said, “As an MSME finance specialist, Lendingkart will continue to support small and micro businesses to thrive, create jobs, drive economic growth, promote entrepreneurship, thereby driving overall socio-economic progress. Contribution will be received.
Lendingkart posted a group net profit of Rs 116 crore for FY23 and had raised Rs 200 crore in long-term debt funding from growth-stage debt financing platform EvolutionX Debt Capital in June 2023.
Founded in 2014 by Lunia, Lendingkart has offices in Ahmedabad, Bengaluru Mumbai and Gurugram, and has a service reach across the country.
The fintech company has developed technology tools based on big data analysis and machine learning algorithms that facilitate lenders to evaluate the creditworthiness of a borrower and provide finance-related services.
Harshvardhan Lunia, Founder and CEO, Lendingkart Group, said in a statement, “We see this investment as a testament to our unwavering dedication to supporting Indian MSMEs. It furthers our efforts to democratize access to finance and champion entrepreneurship. "There is validation of the mission."
He said, “As an MSME finance specialist, Lendingkart will continue to support small and micro businesses to thrive, create jobs, drive economic growth, promote entrepreneurship, thereby driving overall socio-economic progress. Contribution will be received.
Lendingkart posted a group net profit of Rs 116 crore for FY23 and had raised Rs 200 crore in long-term debt funding from growth-stage debt financing platform EvolutionX Debt Capital in June 2023.
Founded in 2014 by Lunia, Lendingkart has offices in Ahmedabad, Bengaluru Mumbai and Gurugram, and has a service reach across the country.
The fintech company has developed technology tools based on big data analysis and machine learning algorithms that facilitate lenders to evaluate the creditworthiness of a borrower and provide finance-related services.
