Lendingkart finance raises 30 crores from Dutch bank, MSME lending on the chart
New Delhi, Jan 11 (KNN) Eyeing at expanding it loan book, Lendingkart Finance Limited in a recent venture with Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO), a Dutch development bank raised funds worth $4.7 million (Rs 30 crore) as non-convertible debentures.
With fresh funds, the firm intends to expand its loan book and increase the credit footprint of the company to the under served SMEs of the country, the release said.
Commenting over the latest development Harshvardhan Lunia, CEO and Co-founder, Lendingkart Technologies said that with the firm entering into collaboration with the Dutch Development Bank, it is to open prospects of attracting similar funding from other international institutions.
Also the firm will now be able to expand its services to a wider base of small and medium enterprises in the country, he said.
Earlier in December, Lendingkart Finance Limited in a venture with the State Bank of India raised 25 crores as cash credit.
At present, Lendingkart finance has extended loans to over 12,000 SMEs from different sectors, the release added.
The Company uses technology and analytics tools, analyzing thousands of data points from various data sources to assess the creditworthiness of small businesses rapidly and accurately. (KNN/DA)