Social VC Investments
MSME-financier Lendingkart raises $10-M in ECBs from BlueOrchard fund
Ahmedabad-based fintech company LendingKart has raised USD 10 million through external commercial borrowing (ECBs) from a fund managed by BlueOrchard. The company will use the proceeds from the ECBs for onward lending activities for MSMEs. The non-convertible debentures (NCDs) were listed on India International Exchange (IFSC) in GIFT City.Earlier, in June 2023, the company had raised INR 200 crore in long-term debt from growth-stage debt financing platform EvolutionX Debt Capital. In FY 2022-23, the company had reported a net profit of INR 116 crore at group level.
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