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.
People Digest: CARS24 names India CEO; Lendingkart makes key hires
Kunal Mundar, CEO, Cars India
February 16, 2021
CARS24, a platform for pre-owned vehicles, has appointed Kunal Mundra as CEO for its cars vertical in India, while Lendingkart Technologies has announced three leadership appointments to further strengthen its product, data science, credit and risk functions.
CARS24 names India CEO
CARS24, a platform for pre-owned vehicles, has appointed Kunal Mundra as CEO for its cars vertical in India, per a company announcement.
In this new role at CARS24, Mundra will be responsible for the company’s car business in India, while closely working with the co-founders to devise expansion strategy, the company said in a statement.
Lendingkart announces three key leadership appointments
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Synopsis
Sundar Gosakan joins Lendingkart as the chief risk and credit officer, Vikram Duggal as senior vice president-data science, and Kinjal Saxena as vice president-product
ET Online
(Illustration: Rahul Awasthi/ETtech)
Bengaluru:Lendingkart Technologies has announced three leadership appointments to strengthen its product, data science, credit and risk functions.
Sundar Gosakan will join the fintech startup as the chief risk and credit officer, Vikram Duggal as senior vice president-data science, and Kinjal Saxena as vice president-product, according to a statement issued on Monday.
“I am excited to have Sundar, Vikram and Kinjal joining Lendingkart for contributing towards our objective of empowering MSMEs in the country,” said Harshvardhan Lunia, co-founder and MD at Lendingkart. “We are also maximising our potential by strengthening our leadership and building a compelling team who will supp