# Lendingkart Finance

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lendingkart-finance

- Industry: Financial Services
- Headquarters: Ahmedabad, India
- Website: www.lendingkartfinance.com
- Total disclosed funding: $164M
- Latest round: Series D (May 27, 2020)
- Investors on record: 7

## About

Lendingkart Finance Limited, based in India, specializes in providing unsecured business loans to small and medium enterprises (SMEs), leveraging technology to assess creditworthiness based on current financial health rather than historical data.Lendingkart Finance Limited focuses on offering quick and efficient access to credit for SMEs in India. Founded in 2014 and headquartered in Ahmedabad, India, the company has successfully completed 27 deals. The founding team includes Ashok Patidar, Harshvardhan Lunia, Jessica Arnold, Kumar Shivam, and Priyanka Soni, with Harshvardhan Lunia serving as CEO. In October 2024, Fullerton Financial Holdings acquired a controlling stake in Lendingkart for INR 2.52 billion, marking a significant investment in the company, which has raised a total of INR 2.52 billion to date.Lendingkart Finance Limited primarily specializes in providing unsecured business loans to small and medium enterprises (SMEs) across India. Their core product offering enables SMEs to access credit quickly and efficiently, utilizing advanced technology and analytics to assess the creditworthiness of applicants based on current cash flows and business growth. This approach helps to bridge the financing gaps many SMEs face, allowing them to manage operational costs, expand their businesses, and invest in growth opportunities. The company serves a diverse clientele that includes small business owners from various sectors, enabling them to leverage funds for purposes such as working capital, inventory purchases, and machinery acquisition, with operations extending to major metropolitan areas and tier-2 cities in India.Lendingkart Finance Limited generated revenue of INR 99,487,113 in the most recent year, 2023, while achieving an EBITDA of INR 46,605,367. The company primarily earns revenue through interest on loans disbursed to SMEs, utilizing a direct lending model. Customers repay these loans through structured monthly installments over a set tenure, with competitive interest rates determined by the borrower's risk profile.In October 2024, Fullerton Financial Holdings acquired a controlling stake in Lendingkart Finance Limited for INR 2.52 billion. This acquisition is expected to enhance Lendingkart's financial service solutions and support ongoing growth strategies. The company aims to expand its product offerings and increase its market presence by launching new financial products targeted at SMEs, while also considering entry into additional geographic regions. The funding from this deal will aid in developing these initiatives and further strengthening Lendingkart's position in the SME financing landscape.

## Funding rounds

- Series D, May 27, 2020, $11M — India Quotient, Bertelsmann India Investments, Fullerton Financial Holdings, Sistema Asia Capital
- Series D, Aug 14, 2019, $3M — Sistema Asia Capital
- Series D, Aug 8, 2019, $30M — India Quotient, Bertelsmann India Investments, Fullerton Financial Holdings
- Series C, Feb 12, 2018, $80M — Mayfield Fund, Saama Capital, India Quotient, Bertelsmann India Investments, Fullerton Financial Holdings, Sistema Asia Capital
- Series C, Aug 8, 2017, $11M — Mayfield Fund, Saama Capital, India Quotient, Bertelsmann India Investments, Darrin Capital Management, Sistema Asia Capital
- Series B, Jun 27, 2016, $19M — Mayfield Fund, Saama Capital, India Quotient, Bertelsmann India Investments, Darrin Capital Management
- Series A, Jul 7, 2015, $10M — Mayfield Fund, Saama Capital

## Investors

- Mayfield Fund (https://capitalatlas.ai/funds/mayfield-fund) — Series A, Series B, Series C
- Saama Capital (https://capitalatlas.ai/funds/saama-capital) — Series A, Series B, Series C
- India Quotient (https://capitalatlas.ai/funds/india-quotient) — Series B, Series C, Series D
- Bertelsmann India Investments (https://capitalatlas.ai/funds/bertelsmann-india-investments) — Series B, Series C, Series D
- Darrin Capital Management — Series B, Series C
- Sistema Asia Capital (https://capitalatlas.ai/funds/sistema-asia-capital) — Series C, Series D
- Fullerton Financial Holdings (https://capitalatlas.ai/funds/fullerton-financial-holdings) — Series C, Series D