Indian working capital financing startup Lendingkart has raised a $32M Series B, led by Betelsmann India Investment with participation from Darrin Capital Management and existing investors Mayfield India, Saama Capital and India Quotient.
Founded in 2014 by Harshvardhan Lunia and Mukul Sachan, Lendingkart will use the funds to improve its data science capabilities, enhance its technology solutions, and build a better infrastructure for mobile capabilities. “With Bertelsmann onboard, we look forward to leveraging its deep understanding of global financial products as well as Internet businesses. Bertelsmann has strategic insights of the Fin-tech space with end-to-end process knowledge and expertise in digital origination. Bertelsmann brings a fresh perspective on digital distribution and data-driven risk assessment which will help us in becoming the leading lending platform for SMEs in India,” Lunia said in a statement.