Lendingkart Partners with Tata Capital

Lendingkart, a fintech startup, has formed a partnership with Tata Capital Limited, the financial services branch of the Tata Group, to provide unsecured business loans to micro, small, and medium-sized enterprises (MSMEs).

The objective of this collaboration with Tata Capital is to improve the accessibility of lending for micro, small, and medium-sized enterprises (MSMEs) throughout the nation by means of its SaaS platform, 2gthr.

2gthr is presently responsible for the financial journey of a customer, which encompasses the initiation of an application, the efficient underwriting process, the management of disbursals, and the seamless management of collections.

Lendingkart asserted that its portal 2gthr has disbursed more than 300,000 loans and has collaborated with approximately 30 financial institutions, including Tata Capital, on its co-lending initiative.

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In the past week, the Reserve Bank of India (RBI) modified the master directions (MD) for non-banking financial company-peer-to-peer (NBFC-P2P) lending platforms. This new development coincides with this change.

The Ahmedabad-based company raised $10 Mn (INR 83.5 Cr) in May through external commercial borrowing from a fund managed by Swiss impact investor BlueOrchard. The newly raised funding will be used to support subsequent lending activities to MSMEs.

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