New Delhi, Dec 28 (KNN) Eyeing at expanding it loan book, Lendingkart Finance Limited in a recent venture with the State Bank of India raised 25 crores as cash credit, a release from the company informed.

With the cash credit collaboration, the firm aims to expand its reach to more than 900 cities across the country.

At present, Lendingkart finance has extended loans to over 12,000 SMEs from different sectors, the release added.

Commenting over the latest development, CEO and co-founder Lendingkart Technologies, Harshvardhan Lunia said that considering the fact that small and medium enterprises (SMEs) play an integral role in country’s economy, it is important to ensure smooth credit to the sector.

He further said that with fresh funds in place, the firm will now be able to reach the underserved sections of the sector in an attempt to ensure growth and financial inclusion.

Lendingkart Finance Limited (formerly Aadri Infin Limited), is a non-deposit taking NBFC, providing SME lending in India.

The Company aims to transform small business lending by making it convenient for SMEs to access credit easily. 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.

Earlier this year, the firm  in association with Kotak Mahindra Bank, Aditya Birla Financial Services and other institutions raised 10 million dollars as funds for extending credit to its clients. (KNN/DA)