Lendingkart Secures USD 10 Million Boost for SME Lending via BlueOrchard ECB
Lendingkart, a leading fintech company in India, has secured USD 10 million via an external commercial borrowing (ECB) from a BlueOrchard fund. This funding will be used to further expand the company's lending operations and reach a wider customer base.
Lendingkart offers a range of financial products and services to small and medium-sized enterprises (SMEs) in India. The company has disbursed over INR 10,000 crores in loans to over 1.5 lakh customers since its inception in 2014.
The ECB from BlueOrchard will provide Lendingkart with additional capital to support its growth plans. The company plans to use the funds to expand its product portfolio, hire new talent, and enter new markets.
Commenting on the funding, Harshvardhan Lunia, Co-founder & CEO of Lendingkart, said:
"We ...