Lendingkart: Revolutionizing SME Financing
May 7, 2024, 9:32 pm
Location: United States, California, San Francisco
Employees: 11-50
Founded date: 2007
Total raised: $10M
Location: United States, California, Mountain View
Employees: 10001+
Founded date: 2002
Total raised: $387.7M
Location: India, Gujarat, Ahmedabad
Employees: 201-500
Founded date: 2014
Total raised: $138.73M
Lendingkart, the Ahmedabad-based online financing company, has been making waves in the SME lending space. With a recent $10 million funding round from Saama Capital, Mayfield, and others, Lendingkart is set to expand its operations and provide working capital loans to underserved MSMEs across India.
Founded in 2014 by Harshvardhan Lunia and Mukul Sachan, Lendingkart has developed a unique approach to SME lending. By focusing on current year cash flows and business growth, Lendingkart sets itself apart from traditional banks and NBFCs. The company's online application process, coupled with analytics and big data scoring, allows for quick and efficient loan disbursement ranging from $940 to $63,000.
With a strong presence in 40 cities and 16 states in India, Lendingkart has disbursed over 1.4 lakh loans worth $1 billion+ to more than 1.2 lakh MSMEs. The company's commitment to empowering small businesses is evident in its partnerships with ecommerce giants like Flipkart and Snapdeal, providing working capital loans to their sellers for growth.
Lendingkart's success lies in its technology-driven approach to evaluating creditworthiness and providing seamless access to working capital. With a focus on financial inclusivity, Lendingkart aims to bridge the funding gap for SMEs and continue its mission of empowering entrepreneurs across the country.
In a landscape where traditional lending practices often leave SMEs underserved, Lendingkart's innovative approach to SME financing is a breath of fresh air. As the company continues to expand its reach and impact, the future looks bright for small businesses in India.
Founded in 2014 by Harshvardhan Lunia and Mukul Sachan, Lendingkart has developed a unique approach to SME lending. By focusing on current year cash flows and business growth, Lendingkart sets itself apart from traditional banks and NBFCs. The company's online application process, coupled with analytics and big data scoring, allows for quick and efficient loan disbursement ranging from $940 to $63,000.
With a strong presence in 40 cities and 16 states in India, Lendingkart has disbursed over 1.4 lakh loans worth $1 billion+ to more than 1.2 lakh MSMEs. The company's commitment to empowering small businesses is evident in its partnerships with ecommerce giants like Flipkart and Snapdeal, providing working capital loans to their sellers for growth.
Lendingkart's success lies in its technology-driven approach to evaluating creditworthiness and providing seamless access to working capital. With a focus on financial inclusivity, Lendingkart aims to bridge the funding gap for SMEs and continue its mission of empowering entrepreneurs across the country.
In a landscape where traditional lending practices often leave SMEs underserved, Lendingkart's innovative approach to SME financing is a breath of fresh air. As the company continues to expand its reach and impact, the future looks bright for small businesses in India.