Lendingkart set to raise Rs 850 crore in Series F round

Lendingkart, a digital credit startup, is looking to raise Rs 850 crore (around $100 million) in fresh equity infusion from existing investors, the company said in its filings with the Ministry of Corporate Affairs.

After Fullerton Financial bought a majority stake in March, the company passed a board resolution to increase its share capital from Rs 4.9 crore to Rs 16.9 crore to raise new funds.

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“Fullerton Financial Private Limited acquired around 56% stake in Lendingkart on March 27, 2025. The company is proposing to secure up to Rs 850 crore in its latest capital raise via a preferential offer led by Fullerton Financial Private Limited, for its expansion and growth." said, Lendingkart spokesperson said.

According to the startup’s filings, Fullerton Financial Holdings will invest Rs 510 crore, Bertelsmann Rs 70 crore, Mayfield India Rs 62 crore, and Saama Capital Rs 46 crore.

Interestingly, Lendingkart’s cofounders, Mukul Sachan and Harshvardhan Lunia, are also joining the funding round. Sachan, who left the company in 2019, will invest Rs 12.9 crore, while Lunia who recently stepped down as CEO, will invest Rs 31.5 crore.

About Lendingkart

Founded in 2014, Lendingkart, a non-banking financial company (NBFC), offers working capital and business loans to SMEs across India, usually between Rs 5–6 lakh. The company says it has disbursed over Rs 18,700 crore to more than 300,000 businesses so far.

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Before the acquisition, Lendingkart raised Rs 1,050 crore ($126 million) from investors including Fullerton, Bertelsmann, Mayfield India, Saama Capital, Sistema Asia, and India Quotient.

For FY24, the company’s revenue rose 36% year-on-year to Rs 1,090 crore, while profits fell 5.9% to Rs 175 crore. FY25 financials have not been filed yet.

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