Fintech company Lendingkart is set to receive an investment of up to Rs 252 crore from Fullerton Financial Holdings (FFH), the investment arm of Singapore-based Temasek. This move will likely give FFH a controlling stake in Lendingkart, pending regulatory approvals. FFH previously held a 38.16% stake in the company, but with this new investment, its stake is expected to increase significantly.
Lendingkart to Secure Major Investment
Although the company has not disclosed the valuation for this round, there has been speculation about a possible decline in Lendingkart’s valuation. Despite this, the capital infusion is expected to help the company expand its services in underserved markets across India. It will also enable Lendingkart to strengthen its technological capabilities, allowing it to better serve Micro, Small, and Medium Enterprises (MSMEs) in the country.
Investor Confidence in Lendingkart’s Vision
Harshvardhan Lunia, founder and Managing Director of Lendingkart, expressed that this new investment shows investor confidence in the company’s ability to reshape the lending sector for MSMEs in India. Lendingkart has been a major player in providing quick and accessible loans to small businesses, and this investment will further its mission of offering financial solutions to entrepreneurs in India’s growing MSME sector.
Fullerton’s Faith in India’s MSME Sector
Hong Ping Yeo, CEO of Fullerton Financial Holdings, noted that their decision to invest in Lendingkart reflects their strong belief in the potential of India’s MSME sector. According to him, scalable ventures like Lendingkart offer considerable value to small businesses, driving growth and innovation.
With this capital, Lendingkart plans to improve its services and continue providing MSMEs with the financial support they need to grow their businesses. The investment is also seen as a positive indicator of continued interest in India’s fintech industry, which is expected to experience substantial growth in the coming years.
