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Lendingkart Technologies raises Rs 21 cr from Sistema Asia Fund


Lendingkart Technologies Private Limited, has raised another fresh equity round of Rs 21 crores with Sistema Asia Fund (SAF), bringing the total tally to Rs 233 crores ($33 million) so far.

With this funding round, the equity raised by Lendingkart stands at a total of $146 million. Last week Lendingkart had announced an equity funding of INR 212 crores (US $30 million) led by existing investors including Fullerton Financial Holdings Pte Ltd (FFH), Bertelsmann India Investments and India Quotient, signalling a strong support and trust in Lendingkart’s vision of financial inclusion and digital accessibility for everyone.

In a statement, Harshvardhan Lunia, co-Founder and Managing Director, Lendingkart Technologies, said, “The latest funding round with the help of the existing partners have signalled a strong support and trust in Lendingkart’s vision of financial inclusion and digital accessibility for everyone. Sistema is one of our valued partner & supporter and we are very happy to join hands for the growth trajectory we have laid out for ourselves.”

Commenting on the investment in Lendingkart Technologies, Dhruv Kapoor, Partner, Sistema Asia Capital, in a statement, said, “Even during these challenging times, Lendingkart continues to grow and perform impressively across all metrics and we are privileged to partner with the company in their journey.”

Since its inception, Lendingkart Finance (the NBFC arm of Lendingkart Group) has evaluated nearly half a million applications, disbursing more than 60,000 loans to 55,000 MSMEs in 1300 cities across all 29 states and union territories of the nation.

Lendingkart Finance works towards ensuring availability of credit for small and micro enterprises (SMEs) that either do not have access to credit or are capital deficient currently. The company aims to disburse loans with minimal paperwork within 72 hours.





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