Lendingkart raised INR 75 crore in a debt funding

Non-banking finance company( NBFC) and lending tech platform Lendingkart raised INR 75 crore in a debt funding from GMO LLC and Triodos Investment Management.

Lendingkart created technology tools based on big data analysis and machine learning( ML) algorithms to help lenders in assessing borrowers’ creditworthiness and giving other allied services. The new funding will be used by the fintech company to give MSME loans across countries. Credit opinions will be formed in real time using the company’s in- house loan origination engine xlr8 and zero- communication features. The Lendingkart group claims to hold estimated roughly,500,000 applications and to have expended over1.4 lakh loans to1.2 lakh MSMEs across,4000+ localities. Lendingkart likewise claims to have expended further than$ 1 billion in loans to date.