Lendingkart has established its position as the leader in digital lending with its largest geographical footprint in India, pioneering in speedy, convenient, and collateral free MSME financing. Lendingkart Finance Limited (Lendingkart group’s NBFC arm) disbursed ~53,000 loans in FY 20, ~85% increase over last year. Its Assets Under Management (AUM) as of FY20 financial year end stand at ~₹2400 Crores growing by 80% in FY 20.
These loans have been disbursed to Micro and small businesses across 1300+ locations, with cumulative disbursals totalling ₹ 5,500 Crores since inception, thus supporting more than 90,000+ businesses. The well diversified portfolio across industries, geographies is also secured under sovereign guarantee cover of Credit Guarantee scheme of the Government of India. The robust portfolio performance, with NPA trending lower than industry in its segment has resulted in Credit rating upgrade to A-/ Stable Outlook from Infomerics credit rating.
Lendingkart Group marquee investors such as Fullerton Financial Holdings (FFH), Saama Capital, Mayfield India, India Quotient, Bertelsmann India Investments, and Sistema Asia Fund, with FFH being the largest shareholder, have also consistently supported continued investments in its digital lending model and technology upgrades. Group has received additional equity infusion of ₹ 319 Crores in the past 12 months.
Lendingkart has instilled confidence amongst the lender community through its consistent track record and business performance. Company has gained support from several PSU Banks such as State Bank of India, Punjab National Bank, Bank of Maharashtra, Indian Bank, Bank of India, and esteemed Financial Institutions such as SIDBI, NABARD subsidiaries and also from International DFIs such as FMO and Symbiotics through various capital markets instruments, many of which are listed on stock exchange.
Commenting on this milestone, Harshvardhan Lunia, Managing Director & Co-Founder, Lendingkart said, “Our goal is to address the working capital fund gap prevalent in India’s high potential Micro and small enterprises, to promote financial inclusion and accessibility through our digital channels. With our innovative approach, digital origination and multilingual support, we are poised to achieve manifold growth in loan book in the next five years, service additional business clusters and increase the total share of lending to MSMEs. On achieving this milestone, we are delighted to fuel dreams and aspirations of upcoming small businesses inching closer to our vision. We aspire to be the lender of choice for the MSMEs from Bharat and help in their journey of becoming an integral part of our economy as we move towards becoming an atma-nirbhar nation.”
Lendingkart has been at the forefront in leveraging the digital tools video KYC, participating with India stack, e-NACH, e-sign, which has tremendously enhanced the capability to deliver their offering to remotest locations and hinterlands in the country. The lending FinTech extends its services pan India with no branch presence and supported by upgraded technology infrastructure that allows zero physical touch points, customer-centric and 100% transparent loan process for customers and partners. Lendingkart underwriting model is not limited to traditional financial basis, and instead adopts a holistic approach of evaluating alternate customer data e.g. bank data and GST data to estimate the customer credit worthiness. The underwriting is based on its proprietary machine-learning model working on close to 5,000+ variables for each loan, which has resulted in strong portfolio performance.