Lendingkart raises INR30cr from Anicut Capital

Digital lending platform Lendingkart has raised INR30 crore from Anicut Capital, one of the leading alternative asset management firms in India, in form of non-convertible debentures (NCD). The raised capital will be used for improving the lending operations of the company’s subsidiary NBFC Lendingkart Finance Limited which offers business loans to SMEs.

Anicut Capital is an alternative asset management firm which was founded by Ashvin Chadha and IAS Balamurugan. The firm is also acts as the investment manager for Grand Anicut Fund, a category II AIF. Anicut Capital has committed capital of over INR110 crore across six investments.

Lendingkart has developed technology tools based on big data analytics that facilitate lenders to evaluate borrowers’ creditworthiness. It leverages analytics tools to analyze a variety of data points across multiple sources to compare the creditworthiness of small businesses effectively and accurately. It had acquihired KountMoney, an online lending marketplace for personal loans for an undisclosed amount in 2016. The acquihire has helped it boost its technology and data analytics capabilities and expand its service portfolio and enhance efficiency.

Lendingkart has expanded its operations pan-India, and claims that it has catered to the credit requirements of over 200,000 SMEs. Fintech market in India is one of the fastest growing market with lot of potential. Lendingkart after the current round of capital raise is well poised to win a big pie of this market.