In a financial tale worth noting, Lendingkart, the digital lending platform tailored for Micro, Small, and Medium Enterprises (MSMEs), has turned a significant corner. The fiscal year ending March 2023 witnessed the company's balance sheet transform from losses to profits, a milestone etched in Rs 118 crore on a canvas of total revenues amounting to Rs 850 crore.
Lendingkart swings to profit in FY23 on back of growing revenue, reduced expenses yourstory.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yourstory.com Daily Mail and Mail on Sunday newspapers.
Founded in 2014 by ex-banker Lunia and ex-ISRO scientist Mukul Sachan, Lendingkart has two arms Lendingkart Finance Ltd and Lendingkart Technologies Pvt Ltd.
Lendingkart plans IPO in 18-24 months livemint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livemint.com Daily Mail and Mail on Sunday newspapers.
Cofounder Harshvardhan Lunia said the firm is looking to raise another Rs 600 crore in equity to expand and grow its business and will be launching its credit on UPI product in the next three to four months