Lendingkart has raised $10 million through external commercial borrowing from a fund run by BlueOrchard, a major global impact investment manager and member of the Schroder Group. The money will be used for future loan efforts for MSMEs.
Speaking in this regard, Harshvardhan Lunia, Founder and CEO, Lendingkart Group, said, “At Lendingkart, we see this investment as a testament to our unwavering dedication to support Indian MSMEs. It is a validation of our mission to democratise access to finance and champion entrepreneurship. We are not just facilitating growth, but are also empowering the backbone of our economy. As an MSME finance specialist, Lendingkart will continue to support small and micro businesses to flourish, create jobs, drive economic development, and foster entrepreneurship, thereby contributing to overall socio-economic progress.”
Established in 2014 by Lunia, Lendingkart operates from offices located in Ahmedabad, Bengaluru, Mumbai and Gurugram, with nationwide service coverage.
Utilising big data analysis and Machine Learning (ML) algorithms, this fintech firm has crafted innovative technology tools. These tools enable lenders to assess the creditworthiness of borrowers efficiently and offer a range of finance-related services.