Total amount raised
$325.7 Million
Latest funding date
6/1/2024
Location
Lendingkart has successfully raised funds over 18 rounds, with the latest being a Debt Financing round. The company is backed by 21 investors, including Stride Ventures and BlueOrchard Finance S A.
Fullerton Financial Holdings is acquiring a controlling stake in Lendingkart, aiming to enhance MSME lending across India. Keep reading to explore the intricacies of Lendingkart's fundraising journey and the investors backing this innovative platform.
What Is Lendingkart?
Lendingkart, based in Ahmedabad, Gujarat, India, operates in the finance, financial services, fintech, lending, and micro-lending industries. The company has a significant workforce, with an employee count ranging from 1001 to 5000.
As an RBI-registered non-banking financial company (NBFC), Lendingkart provides unsecured business loans to MSMEs across India. The company emphasizes a fully digital, fast, and hassle-free loan process, serving over 250,000 MSMEs and disbursing more than 300,000 loans.
How Much Funding Has Lendingkart Raised?
- Debt Financing
- Amount Raised: $12 million
- Date: June 2024
- Lead Investors: Stride Ventures
- Valuation at Round: $690 million
- Motivation Behind the Round: To bolster Lendingkart's lending capacity and support its growth plans.
- Convertible Note
- Amount Raised: $10 million
- Date: May 2024
- Lead Investors: BlueOrchard Finance S A
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's lending operations and enhance its financial stability.
- Debt Financing
- Amount Raised: $24 million
- Date: June 2023
- Lead Investors: EvolutionX Debt Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's ongoing expansion and operational needs.
- Convertible Note
- Amount Raised: $6 million
- Date: August 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the company's financial flexibility and support growth initiatives.
- Debt Financing
- Amount Raised: $9 million
- Date: July 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To increase the company's lending capacity and support its expansion plans.
- Debt Financing
- Amount Raised: $5.5 million
- Date: January 2022
- Lead Investors: BlueOrchard Finance S A
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's lending operations and financial stability.
- Debt Financing
- Amount Raised: $15 million
- Date: April 2021
- Lead Investors: FMO
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's lending operations and enhance its financial stability.
- Series D
- Amount Raised: $42 million
- Date: May 2020
- Lead Investors: Bertelsmann India Investments, Fullerton Financial Holdings, India Quotient, Sistema Asia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion plans.
- Series Unknown
- Amount Raised: $2.8 million
- Date: August 2019
- Lead Investors: Sistema Asia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's operational needs and growth initiatives.
- Series D
- Amount Raised: $28 million
- Date: August 2019
- Lead Investors: Bertelsmann India Investments, Fullerton Financial Holdings, India Quotient
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and expansion plans.
Total Amount Raised: $152.3 million. Current Valuation: $690 million.
Key Investors
- Stride Ventures
- Details: Stride Ventures is a venture capital firm that provides debt financing to startups. They are known for their strategic support and flexible financing solutions.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Stellapps, Miko, Sugar Cosmetics
- BlueOrchard Finance S A
- Details: BlueOrchard Finance S A is an impact investment manager specializing in inclusive finance. They aim to advance financial inclusion and sustainable development.
- Investment Focus Areas: Financial inclusion, climate finance, sustainable infrastructure
- Notable Investments: MicroCred, ProCredit
- EvolutionX Debt Capital
- Details: EvolutionX Debt Capital is a growth-stage debt financing platform. They focus on providing capital to technology and innovation-driven companies.
- Investment Focus Areas: Technology, innovation-driven companies
- Notable Investments: Information not provided
- FMO
- Details: FMO is the Dutch entrepreneurial development bank. They invest in businesses, projects, and financial institutions in developing countries.
- Investment Focus Areas: Financial institutions, energy, agribusiness
- Notable Investments: Equity Bank, Access Bank
- Bertelsmann India Investments
- Details: Bertelsmann India Investments is the strategic investment arm of Bertelsmann SE & Co. KGaA in India. They focus on digital, education, media, and services sectors.
- Investment Focus Areas: Digital, education, media, services
- Notable Investments: Pepperfry, Eruditus
What's Next for Lendingkart?
Lendingkart is poised for significant growth, with plans to cross Rs 10,000 crore in assets under management before going public. The company has already secured substantial funding, including Rs 100 crore in debt and Rs 8 crore in equity from Stride Ventures, positioning it well for future expansion.
As the digital lending market for SMEs continues to grow, Lendingkart is likely to attract further investment. The company is preparing for an initial public offering (IPO) next year, which could provide additional capital for growth. However, challenges such as managing high debt costs and navigating regulatory conditions remain.
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