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LGT Lightstone invests $7 Mn in consumer lending startup SmartCoin

Bengaluru-based micro-lending platform SmartCoin has secured $7 million in a fresh funding round led by LGT Lightstone Aspada. The company would be deploying the funds to further grow its loan book to Rs 1,500 crore along with doubling its user base to 10 million over the next year.

Incorporated in 2016 by Garg, Amit Chandel, Vinay Kumar Singh, and Jayant Upadhyay, SmartCoin provides loans to mobile users through credit scores by using data science and machine learning algorithms. (Source)

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