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Lendingkart Finance raises USD 15 mn funding from Netherlands FMO
Fintech firm Lendingkart on Tuesday said its NBFC arm, Lendingkart Finance has raised USD 15 million (about Rs 110 crore) in debt funding from the FMO - Dutch entrepreneurial development bank.
With this deal, Lendingkart strengthens its three-year relationship with the bank receiving funds through NCDs and increases its cumulative exposure to USD 19 million, a statement said.
This new influx of funds to Lendingkart will be utilised towards expanding the reach of financial products to the MSME segment through Lendingkart s digital platform, it added.
Lendingkart Group is financed by investors like Fullerton Financial Holding, Bertelsmann, Mayfield India, Saama Capital, Sistema Asia, India Quotient and others and has raised around Rs 1,050 crore in equity till date. The company has till now raised Rs 5,000 crore in debt funding.
Lendingkart’s NBFC arm raises ₹108 crore from Dutch bank FMO
April 06, 2021
To raise additional ₹3,000 cr in debt funding in FY 2022 Lendingkart, a financial services and fintech start-up, announced a new round of fund raising of $15 million (₹108 crore) in debt funding from FMO, the Dutch entrepreneurial development bank. With this deal, Lendingkart strengthens its three-year relationship with the bank, having received funds through NCDs (non-convertible debentures) and increasing its cumulative exposure to $19 million with this transaction.
FMO supports sustainable private sector growth in developing countries and emerging markets. This new influx of funds to Lendingkart will be utilised towards expanding the reach of financial products to the MSME segment through Lendingkart’s digital platform across 100 sub-industries spread across India.
Synopsis
This new influx of funds to Lendingkart will be utilised towards expanding the reach of financial products to the MSME segment through Lendingkart s digital platform.
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Lendingkart Finance has disbursed about one lakh loans to more than 90,000 MSMEs across the country.
NEW DELHI: Fintech firm Lendingkart on Tuesday said its NBFC arm, Lendingkart Finance has raised USD 15 million (about Rs 110 crore) in debt funding from the FMO - Dutch entrepreneurial development bank.
With this deal, Lendingkart strengthens its three-year relationship with the bank receiving funds through NCDs and increases its cumulative exposure to USD 19 million, a statement said.
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