Fintech major Lendingkart Technologies today said it has raised over USD 87 million (Rs 565 crore) in equity funding, led by Singapore's Fullerton Financial Holdings (FFH). With this, Lendingkart Group's cumulative equity and debt raising will exceed USD 173 million (Rs 1,129 crore), of which USD 114 million was through equity route. "We are committed to supporting Lendingkart Group on its journey to become a leading digital lender in India," he added.FFH is a wholly-owned subsidiary of Temasek. Since its inception, Lendingkart Finance (the NBFC arm of Lendingkart Group) has evaluated more than one lakh applications, disbursed over 20,000 loans in more than 950 cities helping more than 13,000 SMEs. Lendingkart uses technology tools based on big data analytics and machine learning algorithms to evaluate creditworthiness.

Source: dna February 12, 2018 05:48 UTC