Lendingkart, a pioneer in financial services and a leading fintech company, raised a total debt funding of 75 crores, INR 25 crores in debt from GMO LLC, a leading company in the payment industry and INR 50 crores from Triodos Investment Management via NCDs.
The company will use the new funds to originate MSME loans across all states with credit decisions in a live environment using its in-house built origination engine ‘xlr8’ and ‘zero touch’ features.
Commenting on the announcement, Mr. Harshvardhan Lunia, CEO & Founder at Lendingkart said, “The newly infused funds will enable us to disburse working capital loans to underserved MSME customers through our platform. Additionally, it will also help us in increasing our reach and service more pin codes across the country. It is our constant endeavor to empower the MSMEs and small businesses and we will continue to bridge the financial gaps for small businesses.”
Triodos Investment Management is a globally active impact investor, they are a founding member of the Global Impact Investing Network and a wholly owned subsidiary of Triodos Bank. Triodos Investment Management invests to generate social and environmental impact alongside a healthy financial return.
As a leading company in the payment industry, GMO provides various payment and financial related solutions and platforms to business companies and financial institutions promoting cashless and DX and build payment infrastructure. GMO is also promoting global expansion such as overseas payment-related service development and strategic investment and financing for leading-edge Fintech companies overseas.