Lendingkart raises Rs 75 cr in debt funds from GMO LLC, Triodos Investment
Fintech company Lendingkart announced on Saturday that it had raised debt financing of Rs 75 crore from GMO LLC and Triodos Investment.
The company will use the funds to create loans to MSMEs (micro, small and medium enterprises) in all states with credit decisions in a real environment using the internal “xlr8” creation engine and “zero touch” functionalities, according to a press release.
“Lendingkart…has raised total debt financing of Rs 75 crores, Rs 25 crores of debt from GMO LLC, a leading payments company and Rs 50 crores from Triodos Investment Management through NCD,” the statement said.
Elaborating on the announcement, Harshvardhan Lunia, CEO and Founder of Lendingkart said, “The newly injected funds will allow us to disburse working capital loans to underserved MSME clients through our platform.”
Moreover, it will help the company to increase its reach and serve more PINs across the country.
“We are constantly striving to empower MSMEs and small businesses and we will continue to fill the financial gaps of small businesses,” Lunia added.
Triodos Investment Management is a globally active impact investor. It invests to generate social and environmental impact alongside a healthy financial return.
GMO provides various payment and financial solutions and platforms.
“GMO also promotes global expansion, such as the development of overseas payment-related services and strategic investment and financing for cutting-edge Fintech companies overseas,” the statement added.
(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)