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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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MPL to Lay Off 60% of India Workforce Following Online Gaming Ban

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Mobile Premier League (MPL), one of India’s top online gaming platforms, is set to lay off about 60% of its India workforce following the government’s ban on paid online games. The move, confirmed by MPL CEO Sai Srinivas through an internal email, will impact around 300 employees across multiple departments including marketing, finance, operations, engineering, and legal. This decision comes as a direct result of the Promotion and Regulation of Online Gaming Bill, 2025, which restricts paid online games involving monetary stakes to address concerns over financial risks and addiction among young users.

India contributed nearly half of MPL’s revenues, estimated at around $100 million in the 2024-25 fiscal year. With the ban on paid gaming, MPL’s primary revenue source in India has been effectively cut off, prompting the company to shift focus towards free-to-play games and expand its presence in overseas markets such as the United States and Brazil. Despite the layoffs, MPL has pledged to support the affected employees through the transition period. CEO Sai Srinivas expressed regret over the downsizing but highlighted the company’s commitment to developing new business models for the Indian market amid the regulatory changes.

This development significantly disrupts the Indian online gaming industry, which was on track to grow into a $3.6 billion sector by 2029 before the introduction of the ban. While competitors like Dream11 have adapted by discontinuing paid games and avoiding layoffs, the ban has forced many gaming startups in India to rethink their operations. The government’s regulation targets all games involving real money stakes, including fantasy sports and popular card games like rummy and poker, reshaping the future landscape for the country’s gaming ecosystem and its workforce.

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NCLT Approves Amalgamaxtion of Info Edge Subsidiary Makesense with PB Fintech

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The National Company Law Tribunal (NCLT) has granted approval for the amalgamation of Info Edge’s subsidiary, Makesense Technologies, with PB Fintech as of August 29, 2025, in a significant move for India’s fintech sector. This strategic merger aligns with Info Edge’s ongoing focus on streamlining its corporate structure and supports PB Fintech’s growth trajectory as the operator of leading platforms such as Policybazaar and Paisabazaar. The amalgamation, cleared by NCLT’s Chandigarh bench, took place without winding up either company, enabling a seamless blending of assets and expertise for greater operational efficiency.

In the specifics of this deal, Makesense Technologies—holding a 13.04% stake in PB Fintech as of June 2025—will see its shareholders allotted 59,750 equity shares and 60,030 compulsorily convertible preference shares from PB Fintech, with no change to Info Edge’s underlying economic interest. The consolidation is expected to cut compliance and administrative costs, simplify the equity structure, and enable both companies to focus on core business strengths without duplication of resources. This move is designed to strengthen PB Fintech’s position in India’s fast-evolving fintech and insurance market, while keeping Info Edge’s investment objectives intact.

The NCLT-approved merger highlights a broader trend of consolidation within India’s tech-driven industries, as major players seek to boost competitiveness and achieve sustainable growth through mergers and amalgamations. Stakeholders—including shareholders and employees—are set to benefit from the new, streamlined structure, increased transparency, and the promise of enhanced value creation going forward. The unification of Makesense Technologies and PB Fintech is expected to make a positive impact on the broader fintech ecosystem, reinforcing both companies’ leadership and innovation agendas.

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ShareChat Appoints Neha Markanda as CBO

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ShareChat, one of India’s premier social media platforms, has strengthened its leadership by appointing Neha Markanda as Chief Business Officer for both its flagship ShareChat platform and the popular short video app Moj. Markanda, previously Head of Industry, E-commerce at Google India, brings over 22 years of expertise across renowned companies like Meta, GSK Consumer Healthcare, PepsiCo, and ITC. At Google India, she led transformative strategies in e-commerce and health tech, ensuring market growth and technological innovation for global brands. Her proven track record uniquely positions her to drive ShareChat’s revenue strategy, business expansion, and partnerships with advertisers and regional stakeholders.

Markanda’s appointment comes at a pivotal time for ShareChat, which recently achieved profitability and has projected a robust ₹1,200 crore revenue run rate for the year. The platforms boast a combined monthly active user base of more than 325 million, making ShareChat and Moj essential tools for marketers seeking to increase engagement across India’s diverse regions. Markanda’s expertise is expected to further accelerate ShareChat’s business growth, opening doors for brand collaborations and hyper-targeted influencer campaigns, which can connect marketers to local audiences in a culturally relevant manner.

With advanced degrees from the Indian Institute of Foreign Trade and Lady Shri Ram College, Markanda’s leadership is set to reinforce ShareChat’s momentum as India’s go-to platform for marketers and creators looking for trusted, brand-safe environments. Her focus on vernacular content and building robust partnerships will complement ShareChat and Moj’s mission to empower regional creators and deliver authentic engagement. Industry experts have lauded this strategic move, anticipating that Markanda’s vision will help ShareChat and Moj maintain their edge in India’s social media landscape.

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