Total amount raised
$325.7 Millions
Latest funding date
6/1/2024
Location
Lendingkart has successfully raised significant funding through multiple rounds, attracting a diverse group of investors. The platform specializes in providing financial solutions to small and medium-sized enterprises (SMEs) in India.
Keep reading to delve into the details of Lendingkart's funding journey and the investors who have backed this innovative fintech company.
What Is Lendingkart?
Lendingkart, founded in 2014 by Harshvardhan Lunia and Mukul Sachan, is a fintech company based in Ahmedabad, Gujarat, India. The company specializes in providing working capital loans and financing solutions to small and medium-sized enterprises (SMEs).
Leveraging technology and data analytics, Lendingkart assesses the creditworthiness of businesses quickly and efficiently, enabling fast and convenient loan approval processes. Their platform offers a seamless, user-friendly experience for loan applications and timely fund disbursement.
With a workforce of 251-500 employees, Lendingkart continues to support the growth of SMEs across India, offering collateral-free business loans and other financial services.
How Much Funding Has Lendingkart Raised?
- Amount Raised: ₹3.2B
Date: May 2020
Lead Investors: Bertelsmann India Investments, Fullerton Financial Holdings, India Quotient, Sistema Asia Capital
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To expand lending capabilities and support more SMEs. - Amount Raised: ₹2.1B
Date: August 2019
Lead Investors: Bertelsmann India Investments, Fullerton Financial Holdings, India Quotient
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To enhance technological infrastructure and scale operations. - Amount Raised: ₹210M
Date: August 2019
Lead Investors: Sistema Asia Capital
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To increase loan disbursement capacity. - Amount Raised: $15M
Date: April 2021
Lead Investors: FMO
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To support business growth and expand the loan portfolio. - Amount Raised: ₹440M
Date: January 2022
Lead Investors: BlueOrchard Finance S A
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To enhance lending capabilities and reach more SMEs. - Amount Raised: ₹750M
Date: July 2022
Lead Investors: Not publicly disclosed
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To scale operations and improve technological infrastructure. - Amount Raised: ₹500M
Date: August 2022
Lead Investors: Not publicly disclosed
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To expand loan offerings and support more SMEs. - Amount Raised: ₹2B
Date: June 2023
Lead Investors: EvolutionX Debt Capital
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To increase loan disbursement capacity and enhance technological infrastructure. - Amount Raised: $10M
Date: May 2024
Lead Investors: BlueOrchard Finance S A
Valuation at Round: Not publicly disclosed
Motivation Behind the Round: To support business growth and expand the loan portfolio. - Amount Raised: ₹1B
Date: June 2024
Lead Investors: Stride Ventures
Valuation at Round: $690M
Motivation Behind the Round: To prepare for an IPO and increase assets under management.
Total amount raised: $1.2B
Current valuation: $690M
Key Investors
- Stride Ventures
- Details: Stride Ventures is a venture debt firm based in India. They provide customized debt solutions to startups and high-growth companies.
- Investment Focus Areas: Technology, consumer, healthcare
- Notable Investments: Lendingkart, Sugar Cosmetics, Miko
- BlueOrchard Finance S A
- Details: BlueOrchard Finance S A is a leading impact investment manager. They focus on fostering inclusive and climate-smart growth.
- Investment Focus Areas: Financial inclusion, climate finance, sustainable infrastructure
- Notable Investments: Lendingkart, MicroVest, Symbiotics
- Bertelsmann India Investments
- Details: Bertelsmann India Investments is the strategic investment arm of Bertelsmann in India. They focus on early-stage and growth-stage investments.
- Investment Focus Areas: Digital media, education, services
- Notable Investments: Lendingkart, Pepperfry, Eruditus
- Fullerton Financial Holdings
- Details: Fullerton Financial Holdings is a wholly-owned subsidiary of Temasek Holdings. They invest in financial institutions in emerging markets.
- Investment Focus Areas: Financial services, banking, insurance
- Notable Investments: Lendingkart, Fullerton India, Fullerton Myanmar
- India Quotient
- Details: India Quotient is a venture capital firm that invests in early-stage startups. They focus on innovative and disruptive business models.
- Investment Focus Areas: Technology, consumer, fintech
- Notable Investments: Lendingkart, ShareChat, Sugar Cosmetics
What's Next for Lendingkart?
Lendingkart is poised for significant growth as it targets to cross Rs 10,000 crore in assets under management before its planned IPO. This ambitious goal is supported by recent funding rounds, including Rs 100 crore in debt from Stride Ventures. The digital lending platform is well-positioned to capitalize on the increasing demand for financial solutions among SMEs in India.
Future fundraising opportunities are likely as Lendingkart continues to expand its loan offerings and enhance its technological infrastructure. However, the company must navigate challenges such as managing high debt costs and meeting regulatory requirements. Successfully addressing these hurdles will be crucial for maintaining investor confidence and achieving sustainable growth.
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