Tuesday, July 23, 2024

Lendingkart Secures $10M Funding for MSME Lending Activities

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Lendingkart, a prominent fintech company, recently made headlines by securing a substantial $10M in external commercial funding from BlueOrchard, a renowned global impact investment manager. This funding injection is specifically designated to fuel onward lending activities aimed at supporting Micro, Small, and Medium Enterprises (MSMEs) across India.

Harshvardhan Lunia, the Founder and CEO of Lendingkart Group, expressed profound pride in the company’s unwavering commitment to empowering Indian MSMEs. He reiterated Lendingkart’s core mission of democratizing access to finance and fostering a culture of entrepreneurship within the country.

Harshvardhan Lunia Founder and CEO of Lendingkart Group

With a commendable net profit of Rs 116 crore recorded for FY23 and a recent infusion of long-term debt funding amounting to Rs 200 crore, Lendingkart stands on solid ground to fulfill its promise. The company’s unique blend of a technology-driven approach and an extensive service network spanning the length and breadth of India positions it as a formidable force in supporting small and micro businesses.

Established in 2014, Lendingkart leverages cutting-edge big data analysis and machine learning algorithms to swiftly assess the creditworthiness of borrowers. By harnessing the power of technology, the company streamlines the delivery of financial services to MSMEs, thereby facilitating their growth and contributing to the overall socio-economic advancement of the nation.

Lendingkart Company Logi which Secures $10M Funding

As Lendingkart continues to expand its lending footprint, it remains steadfastly committed to nurturing entrepreneurship and catalyzing economic development across India. Through its innovative solutions and unwavering dedication, Lendingkart is poised to play a pivotal role in shaping the future of MSMEs in the country.

With this latest funding injection, Lendingkart is well-positioned to further strengthen its support for Micro, Small, and Medium Enterprises (MSMEs), enabling them to realize their full potential and contribute significantly to India’s economic growth story.

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