Express Computer
Home  »  News  »  Lendingkart Group continues to extend working capital support to MSMEs; disburses funds worth ₹2500 Cr to MSMEs in FY20

Lendingkart Group continues to extend working capital support to MSMEs; disburses funds worth ₹2500 Cr to MSMEs in FY20

0 294

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.

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

LIVE Webinar

Digitize your HR practice with extensions to success factors

Join us for a virtual meeting on how organizations can use these extensions to not just provide a better experience to its’ employees, but also to significantly improve the efficiency of the HR processes
REGISTER NOW 
India's Leading e-Governance Summit is here!!! Attend and Know more.
Register Now!
close-image
Attend Webinar & Enhance Your Organisation's Digital Experience.
Register Now
close-image
Enable A Truly Seamless & Secure Workplace.
Register Now
close-image
Attend Inida's Largest BFSI Technology Conclave!
Register Now
close-image
Know how to protect your company in digital era.
Register Now
close-image
Protect Your Critical Assets From Well-Organized Hackers
Register Now
close-image
Find Solutions to Maintain Productivity
Register Now
close-image
Live Webinar : Improve customer experience with Voice Bots
Register Now
close-image
Live Event: Technology Day- Kerala, E- Governance Champions Awards
Register Now
close-image
Virtual Conference : Learn to Automate complex Business Processes
Register Now
close-image