Lendingkart Technologies raises over US$87 million equity funding

Credit Suisse acted as the exclusive financial advisor to Lendingkart Technologies.

LENDINGKART Technologies Private Limited (a Lendingkart Group Company), is raising over US$87 million (INR 565 crore) of equity funding in its Series C capital raising. The round is being led by Singapore’s Fullerton Financial Holdings Pte Ltd, along with participation from existing investors.

With this new round of funding, Lendingkart Group’s cumulative equity and debt raising will exceed US$173 million (INR 1129 crores). The funds from this round will enable Lendingkart Group to further strengthen its technological and analytics capabilities. The Group also aims to expand its credit product offerings to deepen its reach to small enterprises and reach out to underserved micro enterprises.

Lendingkart Group has also signed a memorandum of understanding with Fullerton India Capital Company, a wholly owned subsidiary of FFH regarding possible opportunities and initiatives to support their respective businesses.

Since its inception, Lendingkart Finance (the NBFC arm of Lendingkart Group) has evaluated more than 100,000 applications, disbursed over 20,000 loans in more than 950 cities helping more than 13,000 SMEs across 23 diverse sectors, according to Lendingkart.

Credit Suisse acted as the exclusive financial advisor to Lendingkart Technologies.

Photo: Lendingkart.com

Date

12 Feb 2018

Channel

Capital Markets

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