Lendingkart Finance raises Rs 162 crore through debt and equity

Specsmakers

Lendingkart Finance has raised around Rs 162 crore through both debt and equity fund, according to the VCCircle report.

The NBFC platform had raised the amount between August and September this year in multiple tranches from IFMR Capital, Capital First, Tata Capital Financial Services (TCFSl) and Manappuram Finance.

Besides, the NBFC’s technology and digital marketing arm Lendingkart Technologies also invested Rs 60 crore through debt (Rs 20 crore) and equity infusion (Rs 40 crore) into the company.

Lendingkart’s NBFC arm has raised more than Rs 100 crore in the name of debt right from the beginning of 2017 from investors, including Yes Bank, Kotak Mahindra, Caspian Impact Investments and Capital First.

Lendingkart Finance deals with the loans for small and medium enterprises from its own books. The company provides collateral-free working capital loans ranging from Rs 50,000 to Rs 10 lakh to small business. The company says that they have facilitated disbursement of 12,000 loans across more than 700 cities in India.

Recently, Lendingkart Technologies announced its partnership with TransUnion CIBIL, one of India’s leading credit information companies.

Following the tie-up, self-employed professionals and small business enterprises will now be able to access loans offered by Lendingkart Finance on the TransUnion marketplace platform.

In September, Lendingkart Technologies raised Rs 69.02 crore ($10.74 million) in a bridge round from Bertelsmann India, Mayfield Capital, Saama Capital, Darrin Capital, India Quotient and new investor Sistema Asia Fund Pte.

Comments

LEAVE A REPLY

Please enter your comment!
Please enter your name here