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Fintech Startup Lendingkart Raises $ 10.74 Million In Bridge Round

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8 years ago

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Fintech Startup,Lendingkart Raises,Lendingkart Raises In Bridge Round,Ministry of Corporate Affairs,Lendingkart Founder,Startup Stories,2017 Latest Business News

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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Zoho Pay Debuts as India’s New UPI Challenger, Taking on PhonePe, Paytm, and Google Pay

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2 weeks ago

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October 23, 2025

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Zoho Payment

Zoho Corporation has expanded its fintech portfolio with the launch of Zoho Pay, a UPI-based payments app built to challenge India’s top digital payment giants such as PhonePe, Paytm, and Google Pay. The new app supports peer-to-peer transfers, bill payments, QR-based transactions, and merchant settlements in a streamlined interface. Available as both a standalone app and an integrated feature inside Zoho’s privacy-driven messenger Arattai, Zoho Pay enables users to handle chats and payments in one platform, emphasizing data privacy and Made-in-India innovation.​

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Meta Expands AI-Powered Reels Translation to Hindi and Portuguese, Enhancing Global Creator Reach

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October 15, 2025

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Dunzo’s Collapse: Reliance’s ₹1,645 Crore Loss Signals Challenges in India’s Hyperlocal Delivery Market

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3 weeks ago

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Startup Stories

Reliance Industries has officially written off its $200 million investment in Dunzo, a once promising quick-commerce startup in India. Despite high-profile backing and the potential to disrupt the hyperlocal delivery sector, Dunzo faced insurmountable challenges including high operational costs, unsustainable cash burn, and stiff competition from larger players like Zepto and Blinkit. Reliance’s decision follows Dunzo’s operational suspension, leadership exits, and failed attempts at securing additional funding or acquisition partners, ultimately resulting in the company’s digital platforms going offline in early 2025.​

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