Post raising $4.7 Mn funding round in January 2018, Ahmedabad-based SME lending platform Lendingkart has secured over $87 Mn in an equity funding round as part of its Series C round.
The round is being led by Singapore’s Fullerton Financial Holdings Pte Ltd. along with the participation from existing investors.
Credit Suisse acted as the exclusive financial advisor to the SME lending startup.
With this new round of funding, Lendingkart Group’s cumulative equity and debt raising will exceed $173 Mn (INR 1129 Cr).
Earlier in December 2017, Lendingkart raised $3.8 Mn in debt funding from Indian public sector bank SBI. It also secured $10.9 Mn (INR 70 Cr) funding from Sistema Asia Fund as well as existing investors Bertelsmann India Investment, Mayfield India, Saama Capital and others in September 2017.
The funds from the latest funding round will enable the SME lending startup 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.