Lendingkart Closes Series E Funding With Fullerton Rs 252 Cr Investment

Temasek-owned Fullerton Financial Holdings (FFH) has acquired a majority stake in Lendingkart, an MSME-focussed lending tech platform.

The fintech startup announced that the Reserve Bank of India (RBI) has approved a deal where FFH invested INR 252 Cr in Lendingkart as part of its Series E funding round.

Lendingkart stated that this acquisition will strengthen its long-term growth prospects and provide more financial flexibility to support sustainable growth.

The successful completion of this Series E fundraising highlights the increasing confidence in India’s NBFC sector and Lendingkart Group’s key role in promoting financial inclusion for the country’s MSME sector.

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Hong Ping Yeo, CEO of FFH, said, “FFH’s mission since inception is to be the catalyst in enriching lives and enabling success of customers and communities served by our portfolio companies across Asia. Our investments in Lendingkart are a testament to our continued belief in the MSME opportunity in India and that well governed, scalable franchises can bring significant value to small businesses. With the closure of Series E, we intend to enhance risk management, prioritize sustainable expansion, asset quality, profitability and maintain governance standards.”

Harshvardhan Lunia, Founder and MD of Lendingkart, said, “The successful closure of our Series E round is a strong validation of Lendingkart Group’s vision to empower MSMEs with ease of access to credit. With Fullerton’s strategic support, we will strengthen our underwriting capabilities, expand our lending capacity, and significantly increase loan disbursals to help small businesses thrive.”

About Lendingkart 

Founded in 2014 by Harshvardhan Lunia and Mukul Sachan, Lendingkart offers loans to MSMEs and earns revenue mainly from interest and financial services. 

It competes with companies like Incred, Yubi, Indifi and Kinara Capital.

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