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Lendingkart Reviews

Ahmedabad, Gujarat

4.7/ 5

3 reviews

Lendingkart Technologies Private Limited, popularly known as Lendingkart, is a leading financial technology company headquartered in Ahmedabad, Gujarat, India. Founded in 2014 by Mr. Harshvardhan Lunia, the company specializes in providing digital, collateral-free lending solutions to small and medium-sized enterprises (SMEs) and micro, small, and medium enterprises (MSMEs) across India. Its core mission is to simplify access to credit for business owners by offering quick, transparent, and hassle-free working capital and business loans, leveraging cutting-edge technology and data analytics to streamline the borrowing process. The corporate structure of the group features Lendingkart Technologies Private Limited (LTPL) as the technology arm, which owns 100% of Lendingkart Finance Limited (LFL). LFL is an RBI-registered Non-Banking Financial Company (NBFC) that handles the actual disbursement and management of loan products. Rather than evaluating borrowers based on traditional, paper-heavy credit histories, Lendingkart utilizes a proprietary algorithm that analyzes over 5,000 alternative data points. These include banking transactions, tax filings, and credit bureau records, which allows the platform to assess creditworthiness online efficiently and facilitate rapid loan origination, background checking, KYC verification, and automated disbursements. Lendingkart provides short-term business loans and working capital finance up to INR 2 crore, with flexible repayment terms extending up to 36 months. Its digital platform operates via its website and a dedicated Google Play Store application. Over time, the company has expanded its operations beyond e-commerce sellers to serve more than 25 different sectors, including apparel, industrial goods, computing, mobile phones, and FMCG, ensuring a well-diversified credit portfolio. Furthermore, the company has introduced a tech-led co-lending platform called "2gthr," enabling third-party traditional banks and non-bank lenders to co-lend alongside Lendingkart, moving towards an asset-light, transaction-based model. Financially, Lendingkart has raised approximately $260 million to $322 million in equity and debt funding over multiple rounds from marquee strategic investors, including Fullerton Financial Holdings (FFH), Saama Capital, Alteria Capital, and Bertelsmann India Investments. As of FY2023, FFH held a significant 38.16% stake in the entity. Operating as the largest MSME credit platform in India, Lendingkart has served over 225,000 customers with active loan accounts across more than 4,100 cities and towns spanning 34 states and Union Territories. While the technology enterprise operates with hundreds of employees nationwide, its registered office is situated at Iconic Shyamal in Ahmedabad, Gujarat. For customer support, grievances, and fraud protection, the company maintains active redressal frameworks led by appointed nodal officers and transparent channels via care@lendingkart.com.