Lendingkart

The company will use the funds to originate MSME loans across all states with credit decisions in a live environment using in-house built origination engine 'xlr8' and 'zero touch' features.

'Lendingkart has always focussed on leveraging the available technological tools to build capabilities that will be required in scaling up operations', says Harshvardhan Lunia

The company also appointed Paroma Chatterjee, a former executive at Lendingkart and Via.com among other companies, as its chief executive in India, Revolut said

Most start-ups are also not expecting to get the right valuation at this time, as the lockdown imposed to curb the virus' spread has severely disrupted business

The round was led by existing investors including Fullerton Financial Holdings, Bertelsmann India Investments, Sistema Asia Fund and IndiaQuotient

Alteria Capital, which competes with InnoVen Capital and Trifecta, is one of the leading players in India's venture debt market

Online lending startup Lendingkart has raised $87 million (Rs 5.59 billion) in fresh funding led by Singapore-based Fullerton Financial Holdings along with participation from its existing investors Sistema Asia Fund, Saama Capital and others.The latest funding takes the company's figure of cumulative equity and debt raised to $173 million (Rs 11.12 billion). Lendingkart said it will utilise the capital to strengthen its technology and analytics capabilities, while also expanding its credit offering to small enterprises and micro entrepreneurs."We are pleased to collaborate with Fullerton as they bring deep domain experience in the rapidly growing financial services space in India and globally. We look forward to leveraging their insights as we build a leading platform for digital lending in India," said Harshvardhan Lunia, co-founder and CEO of Lendingkart, in a statement.The deal also included the signing of a memorandum of understanding (MoU) between Lendingkart and Fullerton to ...

The company, which caters to small businesses generating revenues of Rs 1-15 lakh per month, disburses loan through digital channel