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Fintech Startup Lendingkart Raises $ 10.74 Million In Bridge Round

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Lendingkart’s technology and digital marketing arm Lendingkart Technologies Pvt., Ltd., has raised $ 10.74 million (RS. 69.02 crores) in a mini bridge round.

The Ahmedabad and Bengaluru based fintech issued 3,294 preferential shares at Rs. 29,634 apiece, mainly to existing investors, according to recent filings with the Ministry of Corporate Affairs (MCA.) VCCircle reported Bertelsmann India led the bridge round with a Rs. 22.75 crores investment. Mayfield Capital, Saama Capital, Darrin Capital and India Quotient also participated in this round, investing Rs. 13.77 crores, Rs. 7.14 crores, Rs. 2.6 crores and Rs. 3.25 crores respectively. Along with existing investors, new investor Sistema Asia Fund Pte, which is a Singapore registered Asia focused investment fund of the Russian business conglomerate Sistema, also invested Rs. 19.49 crores.

The Company, in a press note, said the capital will be used to strengthen their loan book and ramp up their technology and analytics capabilities. The capital will also be used to reach out to the underserved markets of India. Founded in 2014 by Harshvardhan Lunia and Mukul Sachan, Lendingkart has previously raised $ 7.8 million in debt from YesBank to strengthen their loan books and expand operations to Tier III cities. They also raised $10 million in debt funding from Kotak Mahindra Bank and Aditya Birla Financial Services, among others, last month. The company claims to have disbursed over 11,000 loans to over 7,500 SMEs till date and boasts of disbursing loans within three days. 

Lendingkart has raised a total capital of Rs. 534 crores since its launch with Rs. 243 crores in equity and Rs. 291 crores in debt. The documents filed with the MCA also revealed that the conversion price of the preferential shares is subject to change, contingent to the fund raising by the stated deadline. VCCircle also reported Lendingkart was also in the process of raising a Series C funding round while another news daily reported the company was looking to raise up to $ 80 million over the next four to six months.

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PhonePe’s PINCODE Launches 10-Minute Medicine Delivery in Cities

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PhonePe’s PINCODE app has launched a 24×7 online medicine delivery service in Bangalore, Mumbai, and Pune, promising delivery of both prescription and over-the-counter medicines within 10 minutes from nearby local medical shops. Unlike conventional e-pharmacies that use dark stores, PINCODE partners exclusively with neighborhood pharmacies, enabling faster deliveries and supporting local businesses in the digital economy.

Customers without prescriptions can select a “no prescription” option when ordering; a qualified doctor then provides a free teleconsultation and issues a digital prescription compliant with telemedicine guidelines, ensuring seamless access to medicines. The app offers competitive pricing by passing discounts from local pharmacies directly to customers and charges no delivery fees.

PINCODE’s hyperlocal model enhances healthcare accessibility and convenience while empowering local pharmacies, helping them remain integral to their communities and stimulating local economic growth. Launched in 2023, the app focuses on quick commerce with an emphasis on speed, reliability, and supporting local sellers.

In summary, PhonePe’s PINCODE app is transforming medicine delivery in major Indian cities by combining ultra-fast 10-minute delivery, free doctor consultations, and a hyperlocal sourcing model that benefits both consumers and neighborhood pharmacies.

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Piyush Anchliya Joins Cashfree as CFO Amid Fintech Boom

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Cashfree Payments has appointed Piyush Anchliya as its new Chief Financial Officer (CFO), effective April 15, 2025. Anchliya brings over 15 years of experience in investment banking, corporate finance, strategy, and mergers and acquisitions, with senior roles at Barclays, Bandhan Group, and most recently as CFO of Bandhan AMC. He holds an MBA from IIM Ahmedabad and a B.Tech. from IIT Kharagpur.

In his new role, Anchliya will lead Cashfree’s financial strategy, optimize operations, and support the company’s next growth phase. He will report to CEO and Co-founder Akash Sinha, who highlighted Anchliya’s expertise as vital for sustainable scaling and strengthening the company’s financial foundation. Anchliya succeeds outgoing CFO Vikas Guru, who will assist during the transition.

Founded in 2015, Cashfree Payments processes over $80 billion annually for more than 800,000 businesses. The company recently raised $53 million in funding led by KRAFTON and Apis Growth Fund II and secured key RBI licenses, positioning it for accelerated growth in India’s fintech sector. Anchliya’s appointment comes at a pivotal time as Cashfree aims to expand its leadership in digital payments.

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Flipkart’s Jeyandran Venugopal Likely to Join Reliance Retail as CEO

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Jeyandran Venugopal, the outgoing Chief Product and Technology Officer of Flipkart, is set to become the CEO of Reliance Retail Ventures (RRV), the retail arm of Reliance Industries. His appointment, expected to be finalized in May after his exit from Flipkart, signals Reliance’s push to strengthen its retail business with a technology-first approach.

Venugopal brings extensive experience from leading roles at Flipkart, Myntra, Yahoo, Snapdeal, and Amazon, where he focused on scaling technology platforms and driving innovation. At Flipkart, he managed product, engineering, data science, and more, helping build robust systems and improve user experience.

His move comes as Reliance Retail undergoes transformation, including cost-cutting and a renewed focus on digital growth. Venugopal’s leadership is expected to accelerate Reliance’s ambitions in omnichannel and tech-driven retail, positioning the company for continued dominance in India’s evolving market.

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