lendingkart

Ahmedabad-based digital lending startup Lendingkart has raised ₹21 crores in an equity round from Sistema Asia Fund. The startup plans to use the capital to expand its lending base, improve technology and boost its analytics capabilities.

The investment comes days after Lendingkart raised ₹212 crores from existing investors India Quotient, Fullerton Financial Holdings, and Bertelsmann India Investments. With this funding round, the total funding raised by the startup stands at ₹1,022 crores. The startup also raised ₹80 crores in debt funding from Alteria Capital in June this year.

Dhruv Kapoor, partner, Sistema Asia Capital said, “Harsh and the team continues to impress us with their energy, passion, and tenacity in scaling Lendingkart to greater heights. Even during these challenging times, Lendingkart continues to grow and perform impressively across all metrics and we are privileged to partner with the company in their journey.”

Founded by Mukul Sachan and Harshvardhan Lunia in 2014, the startup provides instant working capital loans to SMEs. The startup has evaluated more than 5 lakh applications and has disbursed 60,000 loans to more than 55,000 small business owners in 1,300 cities across the country.


The startup reported a three-times increase in its revenue to ₹92 crores from ₹31 crores while its expenses almost doubled to ₹144 crores from ₹75 crores. Fintech is one of the most funded segments in India. Some of the leading startups in this segment include Kissht, Ftcash, Indiifi, Kreditbee, and SlicePay.

The total funding raised by fintech startups during 2015 and 2018 stands at ₹53,000 crores. According to a BCG and Google survey, 23% of consumers in India have availed retail loans digitally. SME and personal loans have the highest digital influence and purchase rate. However, hurdles like financial literacy and the digital gap between rural and urban areas are yet to be solved.

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