Lendingkart secures over $42mn in Series D funding

The fintech start-up has raised more than $139 million in equity capital from investors till date.

Fintech digital lender Lendingkart Technologies raised $42.44 million as part of its Series D round led by existing investors Singapore based Fullerton Financial Holdings Pte, Moscow based Sistema Asia Fund, Bertelsmann India Investments and IndiaQuotient. The company will use the funds to expand its lending base and further reach out to small and under-served small enterprises.

The Ahmedabad based fintech start-up has raised more than $139 million in equity capital from investors till date.

Harshvardhan Lunia, Co-founder and Managing Director, Lendingkart Technologies, said: “Over the years, Lendingkart has grown exponentially, based on strong business fundamentals and rigorous execution. The fresh round of equity funding reaffirms the support of our investors towards the company, as well as the vast potential of the digital lending industry.”

He further added that the slowdown induced by nationwide lockdown has impacted various small businesses, and this fresh round will only help the company further to reach out to these small businesses.