India based SME lender Lendingkart has raised $10m in debt financing from Kotak Mahindra Bank, Aditya Birla Financial Services, Tata Capital and a few others. Lendingkart offers loans of an average ticket size of Rs 4-5 lakhs to small and medium businesses.
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Lendingkart raises $10m financing
“We, at Kotak Mahindra believe that each startup business has its own unique set of requirements linked to their business model and hence, understanding the nature of business and structuring the solution around it is essential. We are excited to work with Lendingkart Finance since we believe they have a unique and efficient proposition to finance customers – largely in a space which is not as effectively addressed by most banks.” says Manish Kothari, Senior EVP & Business Head, Corporate Banking, Kotak Mahindra Bank.
