Debt financing
Digital lender Lendingkart to raise INR 100 Cr debt from InnoVen Capital
Bengaluru-based fintech startup Lendingkart , is to raise INR 100 Cr (around USD 11.7 million) in venture debt from InnoVen Capital (via InnoVen Capital India Fund) in two tranches.The fresh capital will be used for general corporate purposes including repayment of existing debt or investment in its subsidiary.Founded in 2014 by Harshvardhan Lunia, Lendingkart is a digital-only lending platform, providing unsecured business loans to small and medium enterprises (SMEs) with an average ticket size of INR 60-70K.
Between Mar 2015 and Oct 2024, Lendingkart had attracted about USD 269 in a mix of equity and debt from Stride Ventures, Bertelsmann India Investments, India Quotient, Saama Capital, Sistema Asia Fund and others
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