New Delhi, May 23 (KNN) Lendingkart, a digital lending platform that facilitates SMEs to receive working capital loans, has expanded its reach to 1000 locations and disbursed around 25000 loans across 26 sectors, said the company in a release to the press.

Digital lending platform Lendingkart Finance which exclusively caters to micro small and medium enterprises (MSMEs) for funding requirements claims that it has received applications from 6.5 lakh entities and has evaluated over 1.5 lakh applications.

Further, it claims to assess more than 5000 variables for evaluating the applications to determine the financial health, comparative market performance and social reliability quotient of borrowers for further assessment of their creditworthiness. 

“Over the last couple of years, Lendingkart Group has been able to build a robust technology stack with strong data analytics skills that has allowed us to effectively appraise thousands of borrowers and give them access to finance,” said Harshvardhan Lunia, cofounder of Lendingkart Technologies. 

Illustrating the areas that have been the driving force for the growth of company as well, Lunia highlighted the following areas like Zirakpur (Punjab), Rudrapur (Uttaranchal), Dhenkanal (Odisha), Veraval (Gujarat), Aurangabad (Maharashtra), Jhalawar (Rajasthan), Salem and Madurai (Tamil Nadu) have been driving growth for the company as well. 

Recently, Lendingkart raised around Rs 500 crore in a series C round led by Fullerton Financial.