Lendingkart Receives $10 Million for Onward Lending To Small Businesses

The fintech obtained the capital through external commercial borrowing from a fund run by BlueOrchard.

BlueOrchard has been an active investor in the Indian lending industry, supporting Kinara Capital, Varthana, and AVIOM Housing Finance earlier this year.

Fintech firm Lendingkart has received $10 million (INR 83.5 crore) through external commercial borrowing from a fund managed by Swiss impact investor BlueOrchard.

Lendingkart will use the newly generated funds to expand its lending activities to MSMES.

According to Lendingkart, the non-convertible debentures (NCDs) have been listed on the India International Exchange (IFSC) in GIFT City.

Lunia founded Lendingkart in 2014 to provide loans to micro, small, and medium-sized organizations (MSMEs).